South Korea’s Coupang posts 1st profit since going public

SEOUL — South Korean e-commerce website operator Coupang on Thursday reported its first revenue since going public as years of heavy investments in logistics amenities began to repay.

The Seoul-based firm, backed by Japan’s SoftBank Group, posted revenues of $5.1 billion for the July-September quarter, up 10% on the 12 months. Working earnings totaled $77.42 million, an enchancment over a lack of $315 million a 12 months earlier.