Meituan Returns to Profit as Food-Delivery Competition Eases
By Tracy Qu
Meituan returned to profit in the second quarter as China's top food-delivery company recovered from a bruising price war in the world's second-largest consumer market.
The results snapped a three-quarter streak of losses for the Chinese shopping-and-delivery platform, which is battling Alibaba Group and JD.com to defend its market leadership in food delivery.
Beijing-based Meituan on Friday said its net profit was 2.155 billion yuan, equivalent to $320.6 million, for the three months ended June. That compared with the 6.82 billion yuan loss it recorded in the first quarter and net profit of about 365 million yuan in the year-ago period.
Revenue climbed 14% from a year earlier to 104.64 billion yuan, accelerating from the 5.6% growth in the previous quarter.
Both figures beat market expectations. Analysts had estimated a net loss of 1.43 billion yuan on revenue of 101.56 billion yuan, according to a FactSet-compiled consensus.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
August 28, 2026 05:07 ET (09:07 GMT)
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