Meituan (3690.HK)_ 3Q24 First Take_ Solid 3Q print; eyes on merchant supportive measures and Keeta investments; Buy
36氪研究院·2024-12-03 14:08
30 November 2024 | 12:07AM HKT Meituan (3690.HK): 3Q24 First Take: Solid 3Q print; eyes on merchant supportive measures and Keeta investments; Buy Meituan reported a solid 3Q with top line +22% yoy/adj. EBIT +196% yoy (vs. GSe +20%/+159% yoy) where core local commerce adj. EBIT came at Rmb14.6bn (ahead of GSe and V.A. consensus of Rmb13.6-13.9bn), +44% yoy, mainly on the back of better-than-expected food delivery profitability (EBIT per order higher yoy while lower sequentially on seasonality) while In-stor ...