Meituan Financial Report: In Q1 2024, Meituan's revenue was 73.3 billion yuan, a year-on-year increase of 25%.

Meituan released its first quarter performance report for 2024. The financial report shows that Meituan's revenue in the first quarter was 73.3 billion yuan, a year-on-year increase of 25%. The adjusted net profit was 7.488 billion yuan, a year-on-year increase of 36.4%.

According to the financial report, in this quarter, the number of Meituan’s instant delivery orders increased by 28% year-on-year to 5.46 billion, and the food delivery business continued to maintain high-quality growth, with annual active users increasing to nearly 500 million.

Meituan's delivery service revenue this quarter was 21.1 billion yuan (a year-on-year increase of 24.6%), commissions were 20.7 billion yuan (a year-on-year increase of 27.2%), online marketing service revenue was 10.4 billion yuan (a year-on-year increase of 33.5%), and other services and sales revenue was 21.2 billion yuan (a year-on-year increase of 19.7%).

As of March 31, 2024, Meituan held cash and cash equivalents and short-term financial investments of 50.8 billion yuan and 87.8 billion yuan, respectively.

Meituan CEO Wang Xing said: "We will actively lead the digital transformation and upgrading of the commodity retail and service retail industries, and believe that more synergy will be generated among various businesses in the future."

Zikuai Technology