Coupang (NYSE:CPNG) shares fell 5.3% in pre-market trading after the South Korean e-commerce company released second-quarter 2026 results that fell short of revenue expectations and issued guidance pointing to continued pressure on profit margins.
The company reported quarterly revenue of $8.9 billion, approximately $170 million below analyst forecasts. Revenue still increased 4% year over year on a reported basis and 10% in constant-currency terms.
Regulatory charge drives return to a net loss
Coupang posted a net loss of $570 million for the quarter, compared with a net profit of $32 million in the same period last year.
Much of the decline was linked to $410 million in administrative fines imposed by South Korean regulators following a data-related incident that occurred in 2025.
Despite the headline loss, several underlying performance measures exceeded expectations.
Adjusted earnings came in at a loss of $0.09 per share, outperforming analyst estimates of a $0.21 loss. Adjusted EBITDA also surprised to the upside, reaching $163 million compared with consensus expectations of around $7 million.
Outlook points to slower recovery
Management’s guidance for the coming quarter proved to be the main concern for investors.
Coupang forecast constant-currency revenue growth of between 8% and 9% for the third quarter while warning that adjusted EBITDA margins are expected to decline by between 300 and 400 basis points.
The company also said it now expects a full recovery in operating margins around the middle of 2027, extending the timeline previously anticipated by the market.
Although Coupang plans to challenge parts of the regulatory penalty through the appeals process, management confirmed that payment of the fine remains enforceable while the legal proceedings continue.
Company-specific concerns outweigh broader market support
The wider US equity market offered little direction, with the S&P 500 and Dow Jones each gaining around 0.3% while the Nasdaq traded little changed.
As a result, investors focused almost entirely on Coupang’s company-specific challenges, including weaker-than-expected revenue, the significant regulatory charge and the slower outlook for margin improvement.
Taken together, those factors prompted investors to mark the shares lower in pre-market trading, leaving the stock near the bottom of its 52-week trading range between $14.92 and $34.08.
Coupang stock price
