Didi Again Records a Profit While It Prepares for Hong Kong IPO
- China’s ride-hailing leader is recovering from a crackdown
- The company is now angling to return to capital markets
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Didi Global Inc. posted its second straight quarterly profit, a boost for the Chinese ride-hailing leader as it contemplates a potential re-listing in Hong Kong.
The company swung to a net income of 929 million yuan ($128 million) for the September quarter, versus a year-ago loss. Revenue rose 5% to 53.9 billion yuan, bolstered by a 20% jump in gross transactions from its international business, which encompasses Brazil and Mexico.