Didi Reports Bigger Loss as Incentives, EV Bet Continue to Weigh
- Sales at Chinese ride-hailing firm jumped 15% on demand surge
- Didi seeks to rebuild operations prior to next IPO push
The Didi Global offices in Hangzhou, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Didi Global Inc.’s net loss grew in the March quarter, after climbing marketing costs and losses on its stake in electric vehicle-maker XPeng Inc. outweighed a revenue boost.
China’s leading ride-hailing provider’s net loss grew to 1.35 billion yuan ($186 million) in the first three months of the year, reversing two straight quarters of profitability despite a 15% rise in sales. Didi’s net loss was 1.16 billion yuan a year ago.