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Meituan's Q2 Financial Report Exceeds Expectations: Core Local Commerce Operating Profit Rises 52% YoY to RMB 5.67 Billion, New Business Losses Narrow to RMB 1.74 Billion
Meituan's Q2 Financial Report Exceeds Expectations: Core local commerce operating profit increased by 52% year-on-year to RMB 5.67 billion, and new business losses narrowed to RMB 1.74 billion. Meituan's total revenue in Q2 was RMB 104.64 billion, a year-on-year increase of 14.4%; adjusted net profit was RMB 2.52 billion, significantly exceeding market expectations of only RMB 340 million. The strong performance is mainly attributed to a temporary cooling of industry competition, normalization of food delivery subsidies, and rapid recovery of operational efficiency.
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