Chinese ride-hailing giant Didi Global sees second-quarter revenue rise and losses narrow on strong domestic demand, regulatory easing
- Didi Global posted a 52.6 per cent year-on-year jump in second-quarter revenue to US$6.6 billion on the back of strong demand in mainland China
- Its net loss narrowed to US$36.4 million in the quarter ended June 30, from US$736 million in the same period last year
Beijing-based Didi’s revenue reached 48.8 billion yuan (US$6.6 billion) in the quarter ended June 30, up from the 32 billion yuan a year earlier, driven by strong demand at both its core mainland and international operations, the company reported over the weekend.
Its net loss narrowed significantly to 267 million yuan in the second quarter, a 95 per cent improvement from a 5.4 billion yuan loss in the same period last year.
“We plan to engage with our consumers and drivers more actively for the rest of 2023 through effective promotion and more diversified and affordable product offerings,” Didi said.
The company’s China Mobility market segment, which makes up most of Didi’s business, grew revenue 57 per cent year on year to 44.5 billion yuan in the second quarter, when average daily transactions reached 29.4 million.