Didi reports Q1 loss on international expansion costs
Didi Global swung to a 1.2 billion yuan loss in the first quarter as international costs rose. Revenue grew 10.3 percent despite rising competition in China.
Insights:
Didi Global swung to a 1.2 billion yuan ($177.43 million) net loss in the first quarter ended March 31. The ride-hailing platform reported a 2.4 billion yuan profit during the same period last year. Expanding international losses now threaten the margin stability Didi established after its regulatory restructuring in China.
