Roughly $410 million of that came from administrative fines in South Korea, but even excluding the fines, operating results still fell $295 million short of last year. Coupang's (CPNG) Sales Keep Climbing While Its Profits Take A HitBull Case: A Business Still Expanding On Multiple FrontsCoupang's newer businesses are growing much faster than its core marketplace. Gross profit fell 3% year-over-year to $2.5 billion, and gross margin slipped 188 basis points to 28.2%. Inside Product Commerce, adjusted EBITDA fell $281 million from last year to $382 million, with margin down 390 basis points to 5.1%. That is a steep decline for a company that still spent $459 million buying back 23.2 million shares during the quarter.