Meituan: Q1 Earnings Beat Overshadowed By Cautious Order Volume Guidance

First Quarter Revenue And Earnings Surpassed Analysts' Expectations Elevator Pitch Meituan released its Q1 2024 results announcement on June 6 last week, and the company's key financial metrics for the first quarter came in above the consensus estimates. MPNGF's top line grew by +25% YoY to RMB73,276 million in the first quarter of the current year. Meituan's actual Q1 2024 sales turned out to be +5% better than the sell side's consensus revenue projection of RMB69,622 million (source: S&P Capital IQ). In i ...