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<Research>Citi Foresees MEITUAN-W 3Q Non-GAAP NP RMB13.8B Beats Consensus
Recommend 14 Positive 36 Negative 11 |
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MEITUAN-W (03690.HK) is expected to announce its 3Q24 results at the end of November, Citi Research published a research report as saying. Its quarterly results are envisioned to be robust, thanks to the demand in in-store/ travel and Insta-shopping. At the same time, under stringent cost control and improvement in operating leverage, the economic benefits and profit margin per user may excel expectations. The Buy rating and target price of $192 remained unchanged. The broker last predicted that Meituan's 3Q24 revenue will rise by 20% YoY to RMB91.9 billion, and its non-GAAP net profit to reach RMB13.8 billion, vs consensus of RMB11.7 billion. Looking ahead to 4Q24, Citi forecast that Meituan's revenue could grow 18.3% YoY to RMB87.2 billion, vs consensus of RMB87.4 billion. The adjusted net profit was expected to reach RMB11.25 billion, higher than the consensus of RMB9.1 billion. AAStocks Financial News |
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