Meituan Q4: wider loss in second earnings release since IPO
by Hayden 2019-03-13
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China’s Meituan Dianping, an online food-delivery-to-ticketing firm, said its fourth-quarter operating loss more than doubled as the company wrestled to balance growth with profitability. Its net loss widened to 3.4 billion yuan in the quarter ended Dec. 31 from 2.2 billion yuan in the year-earlier period. The company, which is backed by tech giant Tencent Holdings Ltd, said Meituan‘s revenue grew by 89 percent to 19.8 billion. The overall transaction volume grew by 32.5 percent. This is Meituan‘s second earnings release since its IPO in September last year.