China's Meituan Q2 revenue rises on delivery strength

Meituan

28/08/2026 09:57

Overview
China local services platform's Q2 revenue rose 14.4% yr/yr
Adjusted net profit for Q2 rose 69% yr/yr
Company returned to profit as operating margins improved and new initiatives losses narrowed

Outlook
Company says it will continue to invest in product innovation and ecosystem empowerment
Meituan expects substantial long-term opportunities across the industry
Company aims for high-quality growth through disciplined execution and technology integration
Meituan will expand its lower-tier market service-consumption initiative to nearly 400 county-level regions in H2 2026

Result Drivers
ON-DEMAND DELIVERY - Co said improved profitability in its on-demand delivery business drove core local commerce segment operating profit and margin higher
GROCERY RETAIL & OVERSEAS - Enhanced operational efficiency in grocery retail and overseas businesses narrowed losses in new initiatives segment
DISCIPLINED INCENTIVES - Reduction in user incentives and dynamic optimization of marketing strategy contributed to quality growth and improved margins

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
RMB 104.64 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 29 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for Meituan is HK$112.00, about 44.5% above its August 27 closing price of HK$77.50
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 176 three months ago

Reuters Recommended Reads
Aug 27 - Germany's Delivery Hero Q2 revenue rises 17.7%, lifts 2026 outlook
Aug 25 - Hotpot chain Haidilao H1 revenue rises on delivery business, new brands
Aug 27 - China's Bilibili Q2 net profit jumps 55% on ad growth

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Press Release s3://eap-prd-eu-west-1-source-content/eap_feed_proxy/fingerpost/HKSW/2026-08-28/1dae9d4a-79d7-46af-916f-49990b1abbe8.file
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)