Meituan reports 25% Q1 revenue increase to 73.3bn yuan, driven by food delivery and local commerce growth.

Meituan, China's leading food-delivery and on-demand services provider, reported a 25% increase in Q1 revenue to 73.3bn yuan ($10.1bn), driven by growth in food delivery and local commerce. The company's net profit grew 60% to 5.4bn yuan. Amid growing domestic competition, Meituan plans to expand internationally and improve its global offerings for consumers and merchants.

June 06, 2024
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