Meituan Reports Q1 Revenue Beat Despite Wider Gross Profit Miss
Meituan posted first-quarter revenue of 91.04 billion yuan, above analyst estimates. Gross profit and operating loss figures both came in below forecasts.
forbes.comMeituan reported first-quarter revenue of 91.04 billion yuan, topping the 90.79 billion yuan estimate. Gross profit reached 25.97 billion yuan, falling short of the 27.48 billion yuan projection.
Delivery services revenue totaled 25.01 billion yuan, exceeding the 24.85 billion yuan estimate. New initiatives revenue came in at 26.98 billion yuan, above the 26.6 billion yuan forecast.
The company recorded an operating loss of 6.47 billion yuan, narrower than the 9.01 billion yuan loss analysts had projected. Adjusted net loss narrowed to 4.97 billion yuan, better than the 6.83 billion yuan loss estimate.
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Clean, numbers-driven rewrite focused strictly on beats and misses with no loaded language, metaphors, or speculation.
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Sources framed at 18; our rewrite scored 18 — in line with the sources.
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