Meituan Posts Fourth-Quarter Profit on Travel, Consumption Rebound
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Meituan, a Beijing-based shopping-and-delivery platform, reported a net profit of 2.22 billion yuan ($308.4 million) in the fourth quarter. This marked a significant improvement from a net loss of CNY1.08 billion in the same period last year. The positive result surpassed analysts’ expectations, with a FactSet poll estimating a profit of CNY958.0 million. The increase in revenue can be attributed to the recovery of Chinese consumption and the rebound of local businesses.
