Coupang, Inc. (CPNG) experienced a 24-hour plunge of 6.50% in post-market trading on Tuesday, as investors reacted negatively to the company's first-quarter financial results.

The South Korean e-commerce giant reported Q1 revenue of $8.5 billion, missing the consensus estimate of $8.637 billion. More critically, the company's adjusted EBITDA plummeted 92% year-over-year to $29 million, far below the $113.5 million analysts had anticipated. Coupang swung to a net loss of $266 million for the quarter, compared to a profit in the same period last year.

Margin pressure was evident across the business, with the consolidated gross profit margin falling and the adjusted EBITDA margin dropping sharply. While the company's Developing Offerings segment showed revenue growth, losses in this segment widened significantly, contributing to the overall earnings disappointment that triggered the sell-off.