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Meituan Dianping sees drop in Q1 revenue
(MENAFN)
Meituan Dianping, China's service-focused e-commerce giant, posted a drop in its Q1 revenue in the starting quarter of the current year 2020.
A financial report released by the company said that the operating revenue saw a drop of 12.6 percent since a year earlier to set at USD2.36 billion, representing a net loss of USD30.26 million.
Meituan's food delivery business revenue saw a drop of 11.4 percent in the starting three months of the year to set at USD1.33 billion, the comapny has dealt with a total of 15.1 million orders on daily basis during the quarter, representing a decline of 18.2 percent.
The report also added that the business has been recovering since the 20th of February.
Meituan Dianping, China's service-focused e-commerce giant, posted a drop in its Q1 revenue in the starting quarter of the current year 2020.
A financial report released by the company said that the operating revenue saw a drop of 12.6 percent since a year earlier to set at USD2.36 billion, representing a net loss of USD30.26 million.
Meituan's food delivery business revenue saw a drop of 11.4 percent in the starting three months of the year to set at USD1.33 billion, the comapny has dealt with a total of 15.1 million orders on daily basis during the quarter, representing a decline of 18.2 percent.
The report also added that the business has been recovering since the 20th of February.
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