Investors cheer as Coupang cuts net loss 29% in Q1

South Korean e-commerce platform Coupang said its first-quarter net loss shrank by 29% from a year earlier. The company posted a net loss of $209.2 million in Q1 this year, in contrast to last year’s net losses of $295 million in Q1 and $404.9 million in Q4, respectively. 
Investors cheered the result, sending the value of Coupang’s stock up up more than 13% in pre-market trading.
The SoftBank Vision Fund-backed company said in its earnings release it “recorded the highest gross profit and gross profit margin in the company’s history,” which in turn helped its product commerce segment ac

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