Coupang Inc. posted its first loss in two years, after the acquisition of unprofitable Farfetch Holdings Plc and a government regulatory fine offset strong growth in its core e-commerce business.
South Korea’s largest online retailer posted a net loss of $77 million for the June quarter, versus an average estimate for a loss of $11.7 million. Excluding Farfetch and a fine from the Korean authorities, Coupang’s second-quarter net income came to about $124 million, it said in a statement.
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