If everything is growing, why

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katecathey
2021-03-29

If everything is growing, why is there a loss?

UPDATE 1-China's Meituan reported quarterly loss as it expands into new area

(Adds details) BEIJING, March 26 (Reuters) - Chinese food delivery company Meituan reported a l

UPDATE 1-China's Meituan reported quarterly loss as it expands into new area

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That compared with the 39.17 billion yuan average of 14 analyst estimates, IBES data from Refinitiv showed.</p><p>   Community group buying, which lets communities set up groups for bulk buying, is <a href=\"https://laohu8.com/S/AONE\">one</a> of Meituan's new initiatives that grew by 51.9% year-on-year in quarterly revenue to 9.24 billion yuan.</p><p>   Food delivery, which accounts for over half of Meituan's total revenue, posted revenue growth of 37.0% to 21.54 billion yuan. Its in-store, hotel and travel operation saw revenue growth of 12.2% to 7.14 billion yuan. 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That compared with the 39.17 billion yuan average of 14 analyst estimates, IBES data from Refinitiv showed.</p><p>   Community group buying, which lets communities set up groups for bulk buying, is <a href=\"https://laohu8.com/S/AONE\">one</a> of Meituan's new initiatives that grew by 51.9% year-on-year in quarterly revenue to 9.24 billion yuan.</p><p>   Food delivery, which accounts for over half of Meituan's total revenue, posted revenue growth of 37.0% to 21.54 billion yuan. Its in-store, hotel and travel operation saw revenue growth of 12.2% to 7.14 billion yuan. ($1 = 6.5417 Chinese yuan renminbi)</p><p> (Reporting by Yingzhi Yang and Ryan Woo in Beijing; Editing by Miyoung Kim, Christopher Cushing and Toby Chopra)</p><p>((Yingzhi.Yang@thomsonreuters.com; +861056692133;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","03690":"美团-W"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2122262478","content_text":"(Adds details)   BEIJING, March 26 (Reuters) - Chinese food delivery company Meituan    reported a loss on Friday for October-December after two consecutive quarters of profit, as it expanded into the community group-buying business that relies heavily on subsidies.   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