Bloomberg:

Meituan reports Q2 revenue up 11.7% YoY to ~$12.8B and net income down 97% YoY to ~$51M, blaming “irrational competition” in the Chinese food delivery market  —  Meituan's profit got wiped out in a price-based battle with rivals Alibaba Group Holding Ltd. and JD.com Inc. …

Bloomberg:

Meituan reports Q2 revenue up 11.7% YoY to ~$12.8B and net income down 97% YoY to ~$51M, blaming “irrational competition” in the Chinese food delivery market  —  Meituan's profit got wiped out in a price-based battle with rivals Alibaba Group Holding Ltd. and JD.com Inc. …

Source: TechMeme
Source Link: http://www.techmeme.com/250827/p17#a250827p17