March 11, 2019 / 10:41 AM / 5 months ago

CORRECTED-Meituan Dianping loss widens in its second earnings since IPO

(Fixes headline to reflect loss widens, not “narrows/widens”)

By Josh Horwitz

SHANGHAI, March 11 (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 Spetember last year. (Reporting by Josh Horwitz, editing by Louise Heavens)

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