Meituan Reports Unexpected Revenue Growth

Earleir today, Chinese delivery app, Meituan, reported an impressive 20% growth in revenue Y-o-Y for the quarter ending on December 31st, 2023. Revenue grew from USD 8.4 billion in the same period in 2022, to USD 10,20 billion in 2023. Net profit hit USD 306 million, which is extremely positive considering that, in they year before, they had posted a loss of USD 151 million.

Growth was fueled by local deliveries, whilst new initiatives generated over USD 2.6 billion in revenue.

For more information go to Insider Retail.