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Business· TMT· Commercial & Professional Services

Internet giant Meituan-Dianping achieves Q3 revenue of USD 27.5 bln, up 44% YoY

CKN
minutes 2019/11/22 10:30:10
5,342
Q3 earnings, On-demand delivery, Bike and ride sharing

Nov 22, 2019 (China Knowledge) - China’s internet and delivery giant Meituan-Dianping (3690) has released its performance for Q3 this year. The company announced a total Q3 revenue of RMB 27.5 bln, up 44.1% YoY and a Q3 net income of RMB 1.33 bln (USD 190 mln).

The company also reported a Q3 adjusted net income of RMB 1.94 bln (USD 280 bln), a second consecutive quarter of positive income after the company’s IPO on HKEx last year.

In particular, the company’s food delivery service generated a total Q3 revenue of RMB 15.6 bln. Total number of food delivery orders in Q3 was 2.5 bln, corresponding to total transaction amount of RMB 111.9 bln, up 40% YoY.

Meituan’s in-store, hotel and travel businesses brought in total Q3 revenue of RMB 6.2 bln, up 39.3% YoY. The company’s bike and ride sharing service recorded RMB 5.7 bln in total revenue for the quarter, up 65.4% YoY.

Meituan reported rising total revenues across all of its business segments for Q3. The company currently has total active users of 435.8 mln during the 12 months before end of Sep this year, up 14% YoY.

The company is set to continue its focus in providing multi-level services to users, and continue to grow its revenue in on-demand delivery, bike sharing and entertainment services.

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