FILE PHOTO: A company logo of China's Meituan Dianping, an online food delivery-to-ticketing services platform, is displayed at a news conference on its IPO in Hong Kong, China September 6, 2018. REUTERS/Bobby Yip
SHANGHAI (Reuters) - China’s Meituan Dianping, an online food delivery-to-ticketing firm, said its fourth-quarter operating loss more than doubled as the company wrestles to balance growth with profitability.
Its net loss widened to 3.4 billion yuan in the quarter ended Dec. 31 from 2.2 billion yuan in the year-earlier period.
The company, which is backed by tech giant Tencent Holdings Ltd, said Meituan’s revenue grew 89 percent to 19.8 billion. The overall transaction volume grew 32.5 percent.
This is Meituan’s second earnings release since its IPO in September last year.
(This story corrects headline to reflect loss widens, not “narrows/widens”)
Reporting by Josh Horwitz, editing by Louise Heavens