This photo shows a worker preparing deliveries at a Coupang logistics center in Seoul on Feb. 26. (Herald DB)
This photo shows a worker preparing deliveries at a Coupang logistics center in Seoul on Feb. 26. (Herald DB)

US-listed e-commerce giant Coupang Inc. said Wednesday its third-quarter net profit jumped 51 percent from a year earlier, driven by robust performances in its product commerce and new business segments.

In the three months ended Sept. 30, net profit rose to 131.6 billion won ($95 million) from 86.9 billion won a year earlier, the company said in a press release.

Operating profit also surged 51.5 percent to 224.5 billion won from 148.1 billion over the cited period, while sales climbed 20 percent to 12.84 trillion won from 10.69 trillion won.

Strong results in the company's mainstay product commerce division, including Coupang's signature Rocket Delivery service, as well as growth in new businesses, such as luxury fashion platform Farfetch Holdings, operations in Taiwan and food delivery service Coupang Eats, contributed to the solid quarterly performance, the company said.

Coupang acquired British luxury retailer Farfetch in January 2024, a move that positioned the company as a key player in the $400 billion global personal luxury goods market.

Sales in new growth businesses jumped 31 percent on-year to 1.78 trillion won in the quarter.

"Our results this quarter continue to demonstrate our conviction that Korea remains a remarkably durable growth opportunity with a largely untapped runway ahead," Coupang founder and Chief Executive Officer Bom Kim said during a conference call on the company's earnings results.

Looking ahead, Kim said one of the biggest opportunities to expand Coupang's customer value proposition and drive future growth lies in broadening its selection across both first-party and marketplace offerings.

In Coupang's first-party business, the company delivers ordered goods directly from its logistics centers, while in the marketplace segment, customers receive goods from third-party sellers contracted with Coupang. First-party deliveries currently account for more than 90 percent of the company's sales.

Kim also said accelerating sales momentum in Taiwan is expected to continue contributing to the company's earnings after strong year-over-year revenue growth in the latest quarter.

"These levels of customer adoption in Taiwan are similar to those we saw at a comparable stage of building our retail business in Korea, reinforcing our confidence in its long-term potential," he said. (Yonhap)