Report

CPNG 1Q25 Results: FY25 Guide Remains Intact

What’s new: Coupang’s reported 1Q25 revs that were slightly below consensus and our expectations. Management reiterated its total rev growth guidance of around 20% YoY (on a CC basis) and developing offering losses guidance of US$650mn to US$750mn in FY25. We maintain our PT at US$30.

Analysts:
Jin Yoon
Underlying
Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Analysts
Jin Yoon

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