Coupang stock reports a Q2 loss after USD 410 million fines

Coupang stock was trading at USD 14.19 on the NYSE on September 24, 2026, down 0.67 percent, as the company reported a USD 570 million Q2 FY2026 net loss after regulatory fines. The latest quarter delivered revenue growth, but the cost impact changed the earnings picture.

Q2 revenue grew 4 percent

According to Yahoo Finance, Coupang generated USD 8.9 billion in consolidated net revenue in Q2 FY2026. Reported revenue rose 4 percent year over year, while constant currency growth reached 10 percent, creating a clear gap between the reported and underlying growth rates.

Product commerce produced USD 7.4 billion in net revenue, with 1 percent reported growth and 8 percent constant currency growth. Developing offerings generated USD 1.4 billion, growing 20 percent on a reported basis and 24 percent in constant currency.

Fines reshaped the earnings result

The quarter included USD 410 million in administrative fines from Korean regulatory authorities. Coupang reported a USD 556 million operating loss and a USD 570 million net loss attributable to stockholders, while adjusted operating loss excluding the fines was USD 146 million.

Gross profit reached USD 2.5 billion, but the 28.2 percent gross margin was 188 basis points lower year over year. The margin also improved 115 basis points from the prior quarter, showing that the cost pressure was severe on an annual comparison but less severe sequentially.

Q3 guidance points to margin pressure

Coupang guided to 8 percent to 9 percent year-over-year constant currency revenue growth for Q3 FY2026. The company also expects a 300 to 400 basis point year-over-year contraction in consolidated adjusted EBITDA margin, citing seasonality and the timing of the Chuseok holiday.

For investors, the key tension is visible in the numbers: revenue growth reached 10 percent in constant currency, while the gross margin fell 188 basis points and the reported loss included USD 410 million in fines.

Stock remains near yearly low

Coupang stock was trading at USD 14.19 on the NYSE on September 24, 2026. Its 52-week range was USD 13.97 to USD 32.96, placing the latest quote USD 0.22 above the yearly low and USD 18.77 below the yearly high.