TechSouth China Morning Post1h ago
Meituan reports Q2 revenue up 14.4% YoY
Meituan reports Q2 revenue up 14.4% YoY to $15.62B and adjusted net profit of $372M, ending a three-quarter losing streak as the food delivery price war cooled
TL;DRMeituan's Q2 revenue hit $15.62B, up 14%, with renewed profitability as delivery competition eased.
Why it matters: Signals that brutal food delivery competition may be stabilizing, affecting investor confidence in China's tech sector.
Revenue for the quarter rose 14.4 per cent year on year to 105 billion yuan, beating the consensus estimate of 101 billion yuan.
Read full articleSource: South China Morning Post · Opens in new tab