According to CNBC, the leading Korean e-commerce company Coupang (CPNG.US) saw its stock price plummet over 8% in post-market trading on Tuesday, as the company's reported net sales at the retail end fell short of the general expectations of Wall Street analysts. Financial data showed that the company's Q3 net retail sales totaled $6.14 billion, up 16% year-on-year, but lower than the general Wall Street analyst expectation of $6.24 billion. Operating profit totaled approximately $0.109 billion, also below analyst expectations, but higher than the approximately $88 million of the same period last year.

Additionally, in the third quarter, Coupang's net income dropped significantly by about 30%, to only about $64 million, reflecting significant losses generated by the global top luxury online sales platform Farfetch, acquired by Coupang in January. Excluding Farfetch, the net income attributable to Coupang shareholders in the third quarter is approximately $0.108 billion, significantly higher than the same period last year.

With the financial report data of lower-than-expected net sales pressuring it, Coupang's stock price experienced a drop of about 8.9% in post-market trading on the US stock market.

However, some analysts indicated that the disappointing sales figure overshadowed the relatively strong performance of this Korean e-commerce giant in other indicators. Driven by emerging businesses like food delivery, the e-commerce giant achieved double-digit total revenue growth for seven consecutive quarters. In the performance announced after Tuesday's US stock market trading, the company stated that total revenue in the third quarter increased by 27% year-on-year to $7.9 billion, higher than the general expectation of approximately $7.8 billion by analysts. Q3 gross profit increased by 45% year-on-year to $2.3 billion; gross margin is about 28.8%, up 350 basis points year-on-year.

Under NON-GAAP standards, Coupang's adjusted EBITDA profit is about $0.343 billion, a 44% year-on-year increase, with an EBITDA profit margin of 4.4%, up 50 basis points from the same period last year. Excluding Farfetch-related gains and losses, the company's adjusted EBITDA profit was significantly higher at $0.345 billion, with an EBITDA profit margin of 4.6%.

In terms of stock price performance, Coupang's stock price has surged by 66% so far this year, significantly outperforming the S&P 500 index, thanks to achieving annual profitability for the first time in 2023. This company plays a crucial role in South Korea's online consumer sector and the e-commerce giant that helped popularize same-day delivery in Korea is now seeking new performance growth areas through expansion into luxury goods and other fields. However, it is worth noting that with China's e-commerce giants Alibaba's AliExpress and pdd holdings' Temu entering Coupang's largest market of South Korea, Coupang faces increasingly aggressive competitive pressure.

Referred to by some investors as the 'South Korean Amazon,' Coupang is striving to leverage its acquisition of Farfetch, one of the world's largest online luxury goods sales platforms, to develop luxury goods business into the company's future core revenue-generating business. Coupang's CEO Bom Kim stated that his goal is to drive Farfetch's business to approach breakeven or profitability on an adjusted EBITDA profit basis by the end of 2024.