Didi Turns Profitable as Ride-Hailing Arm Grows Ahead of IPO
- The business is recovering after years of instability
- Didi is said to be preparing for an eventual Hong Kong listing
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Didi Global Inc. swung to a profit in the June quarter, a welcome boost for the company as it prepares for a potential re-listing in Hong Kong.
Its over-the-counter shares rose 2.3%. The results reflect how the company is gradually recovering from a tough few years. Once hailed as a national champion that defeated Uber Technologies Inc. in China, Didi’s business took a hit after Beijing clamped down on the internet industry.