Coupang (CPNG) reported Q1 earnings late Tuesday of $0.06 per diluted share, compared with breakeven a year earlier.

Analysts polled by FactSet expected $0.05.

Revenue in the three months ended March 31 was $7.91 billion, up from $7.11 billion a year earlier. Analysts expected $8.02 billion.

The company said its board has authorized a stock repurchase program for up to $1 billion of its outstanding shares.

Shares were down more than 2.5% in after-hours trading.