Breaches have consequences. Some more than others. Yonhap News Agency reports the Coupang data breach has taken a significant toll on the firm’s fourth quarter profits:
U.S.-listed e-commerce giant Coupang Inc. said Friday its operating profit plunged 97 percent in the fourth quarter from a year earlier due to the impact of a large-scale data breach, while its founder issued an apology again in person.
In the three months ended in December, operating profit plummeted to 11.5 billion won (US$8 million) from 435.3 billion won in the same period of 2024, Coupang said in a press release.
The company also swung to a net loss of 37.7 billion won from a net profit of 182.7 billion won over the cited period. Sales rose 15 percent to 12.81 trillion won from 11.11 trillion won.
Read more at Yonhap News Agency.
