Didi reports Q4 loss of $43 mln amid overseas expansion push

BEIJING, March 13 (Reuters) - Didi Global reported on Friday a net loss for the fourth quarter, as China's largest ride-hailing platform ramped up its international expansion, boosting costs.

The company, which dominates China's ride-hailing market and has expanded primarily in Latin America with ride-hailing and food delivery services, posted a net loss of 300 million yuan ($43.48 million) for the three months ended December 31.

That compared with a net loss of 1.3 billion yuan for the corresponding period in the previous year.

Revenue rose 10.5% to 58.4 billion yuan, the company said.

International revenue, while just a small fraction of total sales, jumped 47% to 4.4 billion yuan.

Revenue from Didi's China Mobility segment, its core business, increased 9% to 51.7 billion yuan.

The company accelerated overseas investment last year, widening food delivery services to additional cities, including Brazil's city of Sao Paulo.

Adjusted losses from the international segment widened to 3.4 billion yuan from 700 million yuan over the same period in 2024, weighing on overall profitability.

In China, Didi faces growing competition from rivals such as Alibaba Group 9988.HK and Meituan 3690.HK, which have integrated ride-hailing into broader apps appealing to users seeking to consolidate links to multiple service providers.

Didi resumed expansion in early 2023 after a regulatory crackdown that began in 2021 when it pursued a U.S. initial public offering without Beijing's approval.

($1=6.8999 Chinese yuan)