First Quarter Revenue up at Coupang
SEATTLE – Prosper exhibitor/sponsor Coupang, Inc. (NYSE: CPNG) announced financial results for its first quarter ended March 31, 2026. Net revenues were $8.5 billion, up 8% year-over-year on a reported and constant currency basis.
Additional Results
• Gross profit was $2.3 billion, decreasing 1% YoY and flat on a constant currency basis. Gross profit margin was 27.0%, a decrease of 228 bps YoY.
- Operating (loss) income was $(242) million, a decrease of $396 million from the operating income last year.
- Net (loss) income attributable to Coupang stockholders was $(266) million, a decrease of $373 million from the net income last year.
- Diluted EPS was $(0.15), down $0.21 YoY.
- Adjusted EBITDA for the quarter was $29 million with a margin of 0.3%, down 449 bps versus last year.
- Operating cash flow for the trailing twelve months was $1.6 billion, a decrease of $425 million YoY and free cash flow was $301 million for the trailing twelve months, a decrease of $724 million YoY.
Quarter and Fiscal Year Results at Alibaba
HONG KONG – Alibaba Group financial results for the quarter and fiscal year ended March 31, 2026 tallied more than $35 billion (US $35,283 million). The number represented modest revenue growth of 3% year over year. Excluding revenue from the disposed businesses of Sun Art and Intime, revenue on a like-for-like basis would have grown by 11% year-over-year.
“Alibaba’s full-stack AI investments have progressed from incubation to commercialization at scale. This quarter, we achieved accelerated breakthroughs across models, cloud infrastructure, and applications,” said Eddie Wu, CEO of Alibaba Group via press release. “Cloud Intelligence Group’s external revenue growth accelerated to 40%, with AI-related products accounting for 30% of this revenue. Our Qwen LLM demonstrated leadership in reasoning and coding while we strengthened our multimodal model portfolio with the launch of video generation and world models. As we see massive potential for agentic AI, we launched multiple enterprise AI agents for office and coding use cases, and we fully integrated e-commerce capabilities into the consumer-facing Qwen app, deepening synergies between AI and our consumer ecosystem.”
“Our strategic investments continued to translate into business growth. Cloud Intelligence Group’s revenue continued to accelerate, with AI-related product revenue achieving triple-digit growth for the eleventh consecutive quarter,” added Toby Xu, CFO of Alibaba Group. “China e-commerce customer management revenue grew 8% on a like-for-like basis. The unit economics and average order value of quick commerce steadily improved. We are confident in our business outlook and will continue to invest in AI + Cloud to strengthen our competitive advantages.”