Meituan reports Q2 revenue of 104.64 billion yuan and net profit of 2.16 billion yuan
According to Huxiu, Meituan’s Q2 revenue reached 1,046.4 billion yuan with a year-over-year growth of 14.4%, while net profit stayed at 2.16 billion yuan after a previous quarter loss of 6.83 billion yuan. The profit rebound occurred as marketing spend grew only 11.5%, and the company faces ongoing challenges on multiple fronts including domestic non-food retail competition and overseas profitability, with AI as a longer-term focus.
Key facts
- 01Q2 revenue: 1,046.4 billion yuan; YoY +14.4%.
- 02Q2 net profit: 21.6 billion yuan; prior quarter net loss: 6.83 billion yuan.
- 03Marketing expenditure grew 11.5% in the quarter.
- 04Company emphasizes AI and faces domestic non-food retail and overseas profitability challenges.
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