How did CPNG's Q4 earnings surprise impact investor sentiment?

**Coupang's (CPNG) Q4 earnings surprise had a positive impact on investor sentiment**, as evidenced by several key indicators:

1. **Earnings Beat Expectations**: CPNG reported quarterly earnings of $0.06 per share, surpassing the Zacks Consensus Estimate of $0.02 per share. This significant beat on earnings expectations is a clear indicator of strong financial performance, which typically boosts investor confidence.
2. **Revenue Growth**: The company's net revenues for the quarter were $8.0 billion, marking a 21% year-over-year increase and a 28% increase on an FX-neutral basis. Such robust revenue growth reflects the company's expanding market share and operational efficiency, which are attractive qualities for investors.
3. **Profit Margin Improvement**: The gross profit for the quarter was $2.5 billion, representing a 48% year-over-year increase. This improvement in profit margins suggests that CPNG is not only growing its top line but also managing its costs effectively, leading to better profitability.
4. **Positive Market Reaction**: Following the earnings release, CPNG's stock outpaced the S&P 500's daily gain, indicating a strong market response to the earnings news. This is a direct reflection of investor sentiment, as positive earnings results often lead to increased investor confidence and a surge in stock prices.
5. **Analyst Optimism**: Analysts are optimistic about CPNG's future, with a growing consensus that the company is executing well and accelerating revenue growth. This sentiment is further bolstered by the company's strategic positioning in the Korean e-commerce market and its ability to report strong financial results.

In conclusion, CPNG's Q4 earnings surprise, characterized by a significant earnings beat, robust revenue growth, improved profit margins, and positive market reaction, has likely contributed to enhanced investor sentiment. The company's strong financial performance and strategic positioning in the market are likely to attract more investors and reinforce confidence in its future prospects.