Meituan's 2024 Q1 Financial Report

TapTechNews June 6, Meituan released its financial report for the first quarter of 2024 today. The revenue in the first quarter was 73.28 billion yuan (about $10.5 billion), an increase of 25% year-on-year; the adjusted net profit was 7.488 billion yuan (about $1.08 billion), an increase of 36.4% year-on-year. TapTechNews attaches the performance table as follows:

Meituan stated that in the first quarter, both the number of platform users and the number of merchants achieved accelerated growth and hit a historical high. Driven by this, the number of instant delivery orders on the platform in this quarter increased by 28% year-on-year to 5.46 billion. The takeout business continued to grow, and the annual active users increased to nearly 500 million, and the transaction frequency of medium- and high-frequency users was further improved year-on-year.

In the first quarter, the average daily order volume of Meituan Flash Purchase reached 8.4 million, and the number of annual active users and transaction frequencies both achieved high growth year-on-year.