Meituan, China's top food delivery firm, reports a 22.4% revenue rise and quadrupled net profit in Q3.

Meituan, China's leading food delivery company, reported a 22.4% revenue rise in Q3 to 93.58 billion yuan, exceeding forecasts. Net profit jumped to 12.86 billion yuan, nearly quadrupling year-over-year. Core commerce revenue increased 20.2% to 69.37 billion yuan, while new initiatives grew 28.9% to 24.2 billion yuan. The firm, holding 69% of China's delivery market, is expanding globally, targeting Saudi Arabia.

November 29, 2024
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