Meituan's Q1 profit soars 87.3%, revenue up 18.1%

Meituan Dianping (HKEX:3690) announced a strong first quarter for 2025, with revenues increasing 18.1% year-over-year to RMB86.6 billion, compared to RMB73.3 billion in 2024. The company reported a significant surge in profit for the period, climbing 87.3% to RMB10.1 billion. Operating profit jumped 102.8% to RMB10.6 billion. Core local commerce revenue increased 17.8% to RMB64.3 billion. The New Initiatives segment saw revenue rise 19.2% to RMB22.2 billion, with operating loss narrowing. Adjusted EBITDA increased by 52.4% to RMB12.3 billion, and adjusted net profit rose 46.2% to RMB10.9 billion. The company holds cash and cash equivalents of RMB115.0 billion and short-term treasury investments of RMB65.4 billion as of March 31, 2025. The company also announced an investment of RMB100 billion over the next three years to fuel industry growth.