Revenue for the three months ended September 30 reached 93.6 billion yuan (US$12.9 billion), up from 76.5 billion yuan a year earlier, helped by supply-chain upgrades that improved efficiency in on-demand deliveries, the Beijing-based company said.
Adjusted net profit for the quarter jumped 124 per cent year on year to 12.8 billion yuan.
“In the third quarter, our on-demand delivery business continued to grow steadily,” the company said in its earnings statement. “We improved our product formats, penetrated deeper into the industry supply chain, and helped merchants enhance efficiency.”
Meituan’s core local commerce operations – which includes its bread-and-butter on-demand food and grocery delivery business, as well as hotel and travel bookings and merchant marketing services – raked in 69.4 billion yuan, a 20.2 per cent increase from a year earlier.
Source link
