(LEAD) Coupang swings to net loss in Q1 amid fallout from data breach

(LEAD) Coupang-Q1 earnings

(LEAD) Coupang swings to net loss in Q1 amid fallout from data breach

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SEOUL, May 6 (Yonhap) -- U.S.-listed e-commerce giant Coupang Inc. said Wednesday it swung to a net loss in the first quarter amid fallout from a massive customer data breach in South Korea.

The company posted a net deficit of $266 million in the January-March period, compared with a net profit of $114 million a year earlier, Coupang said in a press release.

Coupang also turned to an operating loss of $242 million in the first quarter from a net profit of $154 million a year ago, while sales rose 8 percent on year to $8.5 billion.

Coupang Korea, which generates more than 90 percent of the group's total ‌revenue, has faced strong public backlash following disclosure of a data breach in November 2025 involving some 33.6 million customers.

Coupang headquarters in Seoul is seen in this file photo dated Jan. 29, 2026. (Yonhap)

It marked the company's largest net and operating losses since the fourth quarter of 2021.

Coupang had steadily narrowed its operating losses beginning in 2022 and returned to operating profit in the third quarter of that year.

Sales in the product commerce segment, its core online shopping business, rose 4 percent on year to $7.2 billion in the first quarter.

Revenue from the developing offerings segment — which includes its Taiwan business and food delivery service Coupang Eats — jumped 28 percent to $1.3 billion over the period.

The number of product commerce active customers increased 2 percent on year to 23.9 million.

Coupang said it repurchased $391 million worth of shares in the first quarter, adding that its board recently approved an additional $1 billion stock buyback program.