Meituan reports strong Q3 earnings exceeding expectations, with revenue and profitability growth.

From Investing.com: 2024-11-29 04:34:18

Meituan reported strong Q3 results, exceeding revenue and profitability expectations. Total revenue grew by 22.4% to RMB93.6 billion, with core local commerce revenue up 20.2%. On-demand delivery transactions rose by 14.5%. Operating profit in this segment reached RMB14.6 billion with a 21% margin, showcasing efficiency improvements. New initiatives saw revenue grow by 28.9% to RMB24.2 billion. Operating loss narrowed to RMB1.0 billion, highlighting progress in scaling new businesses efficiently. Despite investments, Meituan posted an adjusted net profit of RMB12.8 billion, showing the strength of its core business model and strategic agility.



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