Jinwu Financial News | Meituan (03690) announced results for the three months ended September 30, 2024. During the period, the company's equity holders should account for profit of 12.865 billion yuan (RMB, same below), an increase of 258.05% over the previous year.
During the period, the Group's revenue was 93.577 billion yuan, up 22.38% year-on-year. Specifically, delivery service revenue was 27.784 billion yuan, up 20.89% year on year; commission revenue was 26.89 billion yuan, up 24.86% year on year; online marketing service revenue was 13.539 billion yuan, up 18.36% year on year; and other services and sales (including interest income) was 25.364 billion yuan, up 23.68% year on year.
During the period, the revenue of the core local business segment increased by 14.3% from 60.7 billion yuan in the second quarter of 2024 to 69.4 billion yuan in the third quarter of 2024. The increase in revenue was mainly due to an increase in the number of transactions, partly offset by increased subsidies deducted from revenue, both due to seasonal factors.
During the period, the revenue of the new business segment increased by 12.2% from 21.6 billion yuan in the second quarter of 2024 to 24.2 billion yuan in the third quarter of 2024, mainly due to the increase in revenue from the company's retail sales business.
During this period, Meituan's instant delivery business continued to grow steadily, and order volume increased 14.5% year over year. In the third quarter, the in-store wine tourism business also recorded strong growth, with orders increasing by more than 50% year over year. The number of annual trading users and annual active merchants both reached record highs.