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Coupang Reports Net Loss in First Quarter Due to Data Breach Fallout

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Seoul, May 6 (IANS) US-listed e-commerce giant Coupang said on Wednesday it swung to a net loss in the first quarter amid fallout from a massive customer data breach in South Korea.The company posted a net deficit of $266 million in the January-March period, compared with a net profit of $114 million a year earlier, Coupang said in a press release, reports Yonhap news agency.Coupang also turned to an operating loss of $242 million in the first quarter from a net profit of $154 million a year ago…