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
3 Articles