Today in 5 minutes or less:

1. Coupang Reports Strong Q1 with 23% Revenue Growth and Increased Gross Profit ($CPNG)

2. Robinhood’s AUC Surges 65% to $129.6 Billion as Customer Growth Accelerates ($HOOD)

3. Uber Eats to Acquire Delivery Hero’s foodpanda Operations in Taiwan ($UBER)

4. Video of the day: Transforming In-Car Experiences: Cerence and NVIDIA's Generative AI Collaboration ($NVDA) ($CRNC)

1. Coupang Reports Strong Q1 with 23% Revenue Growth and Increased Gross Profit ($CPNG)

• Revenue Growth: Net revenues increased by 23% year-over-year to $7.1 billion; FX-neutral growth was 28%.

• Gross Profit: Gross profit rose 36% year-over-year to $1.9 billion, with a 27.1% profit margin.

• Net Income Impact: Net income attributable to Coupang stockholders decreased by $86 million due to Farfetch losses; excluding Farfetch, net income was $98 million.

• Adjusted EBITDA: Adjusted EBITDA for the quarter was $281 million with a 3.9% margin; excluding Farfetch, it was $312 million with a 4.6% margin.

Source: Coupang, Inc.

2. Robinhood’s AUC Surges 65% to $129.6 Billion as Customer Growth Accelerates ($HOOD)

• Significant AUC Growth: AUC increased 65% year-over-year, reaching $129.6 billion.

• Customer Expansion: Funded customers grew by 810,000 year-over-year, totaling 23.9 million.

• Investment Accounts Rise: Investment accounts rose by 1.1 million year-over-year, totaling 24.4 million.

• Strong Net Deposits: Net Deposits hit $11.2 billion, reflecting a 44% annualized growth rate from Q4 2023.

Source: Robinhood Markets, Inc. 

3. Uber Eats to Acquire Delivery Hero’s foodpanda Operations in Taiwan ($UBER)

• Major Acquisition: Uber Eats is purchasing foodpanda Taiwan for $950 million, pending regulatory approval.

• Additional Investment: Uber will also buy $300 million in newly issued ordinary shares of Delivery Hero.

• Strategic Integration: The merger will combine Uber’s strengths in northern Taiwan with foodpanda’s in southern regions.

• Market Impact: This acquisition underscores Taiwan’s attractiveness to international investors and companies.

Source: Uber Technologies, Inc.

4. Video of the day: Transforming In-Car Experiences: Cerence and NVIDIA's Generative AI Collaboration ($NVDA) ($CRNC)

Discover how Cerence and NVIDIA are leveraging generative AI to revolutionize in-vehicle experiences. Through their partnership, Cerence integrates its Automotive Large Language Model with NVIDIA's technology, enhancing voice-controlled navigation and enabling natural conversations. This collaboration aims to create a sophisticated in-car assistant, redefining the way people interact with their vehicles for a seamless and enjoyable journey.

Short updates on your favorite stocks/markets

• Tesla Layoffs To Continue Through June, Morale Low Among Workers. YF ($TSLA)

• Britain’s inflation rate could be about to drop below the Bank of England’s 2% target. CNBC

• The property firm that could break China’s back. E 

• Apple looks to boost sales in China with hefty discounts as e-commerce festival gets underway. CNBC (APPL)

• Trump Media posts more than $300 million net loss in first public quarter. YF (DJT)

• Fintech N26 Fined €9.2 Million Over Anti-Money Laundering Lapses. BL 

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