Didi Global Inc. reported its second straight quarterly loss, after ratcheting up investment to expand globally and defend its turf in markets like Brazil from new entrant Meituan.
The company recorded a net loss of 1.2 billion yuan ($177 million) for the three months ended March, several times larger than in the December quarter.Revenue grew 10% to 58.7 billion yuan, while transactions within the China mobility business grew 10% to a record high.
Didi, known as China’s answer to Uber Technologies Inc., is expanding into regions such as Latin America and Hong Kong in search of growth. Its ...
