'South Korea's Amazon' Coupang swings to surprise profit, stock rallies more than 7%

Coupang Inc. shares rose nearly 8% in the extended session Wednesday after the South Korean e-commerce giant swung to a surprise profit in its third quarter. Coupang earned $91 million, or 5 cents a share, in the quarter, contrasting with a loss of $324 million, or 19 cents a share, in the year-ago period. Revenue rose 27% to $5.1 billion, the company said. FactSet consensus called for a loss of 3 cents a share on sales of $5.2 billion. Coupang has invested "billions of dollars ... over the...