Coupang stock slips after first results as public company

Coupang Inc.
CPNG,
-2.54%
shares slipped in the extended session Wednesday after the South Korean e-commerce company reported its first quarterly results as a publicly traded company. Coupang shares slipped 2.6% after hours, following a 2.5% decline in the regular session to close at $35.33. The company reported a first-quarter loss of $295 million, or 68 cents a share, compared with a loss of $140.2 million, or $5.74 a share, in the year-ago period. Revenue rose to $4.21 billion from $2.41 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 16 cents a share on revenue of $4.19 billion. The company started publicly trading March 11 on the New York Stock Exchange.