Coupang posts steep Q2 loss on levy despite sales growth

E-commerce giant Coupang posted its largest quarterly operating loss since its New York listing in 2021, as a fine tied to last year's data breach swamped otherwise solid revenue growth. The company said Wednesday that revenue for the April-June period rose 10 percent on-year on a constant currency basis to $8.9 billion. The operating loss widened to $556 million from an operating profit of $149 million a year earlier. Combined with the first quarter's $242 million operating loss, Coupang's firs