EarningsAdjusted net profit surged 124% y/y to RMB12.8bn in 3Q24, beating consensus by 7% on higher-than-expected revenue and operating efficiency gain.
Market PositionMeituan is a leading online food delivery platform with a vast fulfillment network and a wide range of active merchants, driving transaction volume.
Revenue GrowthRevenue grew by 22% y/y to RMB93.6bn, 2% ahead of consensus, led by core local commerce and new initiatives revenue rising 20% and 29%, respectively.