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别问,问就是:满仓干
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多猫猫
2022-07-07
$Integrated Media Technology Limited(IMTE)$
升到10元
多猫猫
2021-02-19
$蔚来(NIO)$
加仓机会
多猫猫
2021-02-19
$阿里巴巴-SW(09988)$
转灯
多猫猫
2021-02-18
$阿里巴巴-SW(09988)$
慢慢来
多猫猫
2021-02-16
$阿里巴巴-SW(09988)$
加油,
多猫猫
2021-02-13
$跟谁学(GSX)$
拉总牛逼,加油上200
多猫猫
2021-02-09
$容联云(RAAS)$
今晚翻倍。支持的点赞
多猫猫
2021-02-04
$阿里巴巴(BABA)$
今晚上290。求点赞,求回复。
多猫猫
2021-01-21
$阿里巴巴(BABA)$
坚定持有
多猫猫
2020-12-25
$阿里巴巴-SW(09988)$
抄底
多猫猫
2020-12-19
$阿里巴巴-SW(09988)$
巴巴,顶住
多猫猫
2020-12-13
$一起教育科技(YQ)$
发生了神马
多猫猫
2020-12-11
$阿里巴巴-SW(09988)$
每天发一贴支持
多猫猫
2020-12-10
$农夫山泉(09633)$
好水
多猫猫
2020-12-09
$阿里巴巴-SW(09988)$
350,迟早的事
多猫猫
2020-12-03
$纳指三倍做多ETF(TQQQ)$
🐮
多猫猫
2020-12-02
溢价
美团跌超7%!Q3财报都说什么?
多猫猫
2020-12-01
$阿里巴巴-SW(09988)$
马爸爸加油
多猫猫
2020-11-30
$阿里巴巴-SW(09988)$
稳住
多猫猫
2020-11-29
$荣昌生物-B(09995)$
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10:01","market":"hk","language":"zh","title":"美团跌超7%!Q3财报都说什么?","url":"https://stock-news.laohu8.com/highlight/detail?id=1192548483","media":"老虎资讯综合","summary":"12月2日,美团跌幅持续扩大,截止发稿,股价跌超7%,报268港元,市值1.58万亿港元。1个多月前的10月底,美团点评宣布更改公司名字。美团、点评都是杠杆游戏以前常用的应用,这个细节的变迁,不免让人有些伤感。新名新气象,1个来月后的11月30日,美团发布3季报。同时,三季度,美团的餐饮外卖收入同比增长32.8%,至206.93亿元。","content":"<p>12月2日,美团跌幅持续扩大,截止发稿,股价跌超7%,报268港元,市值1.58万亿港元。</p><p><img src=\"https://static.tigerbbs.com/c822c8c7accae0ff463280e673f1602a\" tg-width=\"867\" tg-height=\"833\"></p><p>1个多月前的10月底,美团点评宣布更改公司名字。</p><p>“美团”+“点评”,这两个曾经行业头部的公司组合起来的名字,再也不会出现在任何上市公司公告中。</p><p>从此世上只有美团-W,不再有美团点评。美团、点评都是杠杆游戏以前常用的应用,这个细节的变迁,不免让人有些伤感。</p><p><img src=\"https://static.tigerbbs.com/b534b82e92c98a126dbfc9cb28a58a3e\" tg-width=\"380\" tg-height=\"111\"></p><p>新名新气象,1个来月后的11月30日,美团发布3季报。一扫前2个季度,特别是一季度的阴霾,营收354.01亿元,比2019年3季度的274.94亿元增长28.8%。</p><p>最受瞩目的要数经营溢利67.24亿元,同比大涨364.6%。这主要得益于理想汽车上市等带来的投资收益。</p><p>如果除掉这部分,也就不那么好看了。难怪有媒体说,美团“炒股”保利润。</p><p>三季报这一表现没有赢得市场的欢心。11月30日、12月1日,连续2日在港股的表现都不如人意,如下图。</p><p><img src=\"https://static.tigerbbs.com/284b316d9ab7546b6417b3681c4aaf79\" tg-width=\"840\" tg-height=\"470\"></p><p>作为我国市值第三的互联网企业,在互联网反垄断、饿了么硬干的背景下,美团到底如何,其各大业务板块发展情况、盈利能力,是否经得起长期考验?</p><p><b>1、餐饮外卖有得有失,饿了么掀起反攻战</b></p><p>2020年三季度,美团的餐饮外卖业务交易金额,增长不错。同比增长36.0%,达1522亿元。</p><p>财报披露,餐饮外卖日均交易笔数同比增长30.1%至34.9百万笔。每笔餐饮外卖业务订单的平均价值同比增长4.5%。</p><p>不过餐饮外卖业务变现率,由2019年同期的13.9%,降至2020年第三季度的13.6%。</p><p>同时,三季度,美团的餐饮外卖收入同比增长32.8%,至206.93亿元。餐饮外卖业务的经营溢利,由2019年第三季度的3.31亿元,增加至2020年第三季度的7.69亿元。</p><p>经营利润率也由2.1%,升至3.7%。</p><p><img src=\"https://static.tigerbbs.com/63a5f41af30e93539b4ae1ef45e182c6\" tg-width=\"640\" tg-height=\"362\"></p><p>财报解释了,夏季通常是餐饮外卖业务的旺季。</p><p>但是环比看,杠杆游戏注意到,美团的餐饮外卖部分的经营溢利,由2020年第二季度的13亿元,减至2020年第三季度的8亿元。美团的解释是:</p><p>乃主要由于暑假期间外卖骑手成本以及销售及营销开支增加。</p><p>环比看,餐饮外卖部分经营利润率由二季度的8.6%,减至3.7%。原因是:</p><p>乃主要由于向外卖骑手提供季节性及临时补贴,导致餐饮外卖骑手成本较高;及在线营销收入的占比下降,收入组合因而出现变化。</p><p>和同行比,阿里包含饿了么在内的整个本地生活不到100亿元,和美团餐饮外卖约207亿元的收入比起来,明显要低。</p><p>客观来说,一些数据所言,美团外卖APP的MAU(月活跃用户)被饿了么APP反超,其实还是言过其实。</p><p>但饿了么的发力是真的,战斗尚未终结,美团压力依旧不小。</p><p><b>2、到店、酒店及旅游业务扭转负增长局面</b></p><p>值得一说的是,美团的到店、酒旅及旅游业务,扭转了前两季度的负增长局面,收入64.78亿元,同比上涨4.8%。</p><p>涨幅虽然很低,但是考虑到今年的黑天鹅影响如此大,有增长算是很不错的事。</p><p>同时,这部分获得27.87亿元的经营溢利,同比上涨19.5%。如下图。</p><p><img src=\"https://static.tigerbbs.com/94d2eebfc57615409b8f4ad66e3f505c\" tg-width=\"640\" tg-height=\"371\"></p><p>如美团CFO陈少晖所言:</p><p>到店业务的增长主要由医疗健康、宠物护理、家政服务等领域推动,商家投入了更多营销投放;此外,低星酒店在疫情过后业绩恢复更快,从间夜量的角度三季度美团已成为最大的酒店预定平台。</p><p>注意细节,美团的到店、酒店及旅游业务经营溢利,由2020年二季度的19亿元增长47.4%,达到2020年三季度的约28亿元,涨幅不错。</p><p>经营利润率环比增长1.4个百分点,至43.0%。</p><p>和去年同期比,到店、酒店及旅游业务的经营溢利,由去年同期的23亿元增至28亿元,经营利润率则由37.7%升至43.0%。</p><p>也有观点认为,含金量最高的到店利润同比增速只有19.5%,还是有些遗憾。同时,经营现金流恢复一般。这个看法杠杆游戏觉得也有道理。</p><p>有报道就说,消费者和店家都很精明。有些用户只是通过美团这个渠道来看产品,然后直接去线下下单,而且商家也乐于让用户线下下单,这样少被美团抽成。</p><p>无论如何,美团的到店业务营销需求恢复步入正轨。到店分部的佣金收入及在线营销服务收入,三季度录得同比正向增长。</p><p>可以预见,如果黑天鹅控制得好,美团的到店、酒店及旅游业务四季度会获得还不错的业绩。</p><p>唯一的问题,杠杆游戏认为是,和同行比到底算好还是差?在投资人眼中,算好还是不够好?</p><p><b>3、新业务及其他到底表现如何?</b></p><p>新业务及其他业务依旧是经营亏损。由2020年二季度的亏约15亿元,扩大39.0%至2020年三季度的亏约20亿元。美团解释:</p><p>乃主要由于(业务扩充令食杂零售业务的经营亏损增加。</p><p>财报同时披露,该部分的经营利润率,由负值25.9%,环比收窄1.2个百分点至负值24.7%,乃主要由于部分新业务的经营杠杆作用提高,部分被收入组合变化导致溢利率下跌所抵销。</p><p><img src=\"https://static.tigerbbs.com/ab92727459a507487c5dfc8bbc8cd909\" tg-width=\"640\" tg-height=\"326\"></p><p>虽然亏损,但新业务及其他业务在第三季度的营收,同比增速是三大板块中最高,同比增长43.5%,录得营收82.30亿元。如上文第二部分图。</p><p>不过如果看同比亏损额度,增加68.8%。去年同期,只有12亿元的亏损。美团认为:</p><p>主要是扩大了B2B餐饮供应链服务、美团买菜、美团优选及美团闪购等业务,以满足用户不断增长的需求;但部分收入被餐厅管理系统及网约车服务收入减少所抵销。</p><p>社区团购、卖菜业务备受关注。目前社区团购已成为互联网巨头押注的新赛道。杠杆游戏注意到,除了美团,滴滴、拼多多、阿里、京东等公司均投入大量资源在二三线城市跑马圈地。</p><p>三季度,美团优选疯狂推进它的“千城计划”,要在年内实现“千城”覆盖。</p><p>这一领域的竞争短期不会分出胜负,各家公司为了地盘和市值、估值都很拼。美团老板王兴就称,生鲜等“有得打”。</p><p>对于美团也好,其他公司也罢,这块业务必然拖累利润。当然,先有份额和规模,以后再收割回报,这是互联网的铁逻辑。</p><p>总之一句话,先烧钱,这是无疑的。否则,一席之地都不会有。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>美团跌超7%!Q3财报都说什么?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美团跌超7%!Q3财报都说什么?\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2020-12-02 10:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>12月2日,美团跌幅持续扩大,截止发稿,股价跌超7%,报268港元,市值1.58万亿港元。</p><p><img src=\"https://static.tigerbbs.com/c822c8c7accae0ff463280e673f1602a\" tg-width=\"867\" tg-height=\"833\"></p><p>1个多月前的10月底,美团点评宣布更改公司名字。</p><p>“美团”+“点评”,这两个曾经行业头部的公司组合起来的名字,再也不会出现在任何上市公司公告中。</p><p>从此世上只有美团-W,不再有美团点评。美团、点评都是杠杆游戏以前常用的应用,这个细节的变迁,不免让人有些伤感。</p><p><img src=\"https://static.tigerbbs.com/b534b82e92c98a126dbfc9cb28a58a3e\" tg-width=\"380\" tg-height=\"111\"></p><p>新名新气象,1个来月后的11月30日,美团发布3季报。一扫前2个季度,特别是一季度的阴霾,营收354.01亿元,比2019年3季度的274.94亿元增长28.8%。</p><p>最受瞩目的要数经营溢利67.24亿元,同比大涨364.6%。这主要得益于理想汽车上市等带来的投资收益。</p><p>如果除掉这部分,也就不那么好看了。难怪有媒体说,美团“炒股”保利润。</p><p>三季报这一表现没有赢得市场的欢心。11月30日、12月1日,连续2日在港股的表现都不如人意,如下图。</p><p><img src=\"https://static.tigerbbs.com/284b316d9ab7546b6417b3681c4aaf79\" tg-width=\"840\" tg-height=\"470\"></p><p>作为我国市值第三的互联网企业,在互联网反垄断、饿了么硬干的背景下,美团到底如何,其各大业务板块发展情况、盈利能力,是否经得起长期考验?</p><p><b>1、餐饮外卖有得有失,饿了么掀起反攻战</b></p><p>2020年三季度,美团的餐饮外卖业务交易金额,增长不错。同比增长36.0%,达1522亿元。</p><p>财报披露,餐饮外卖日均交易笔数同比增长30.1%至34.9百万笔。每笔餐饮外卖业务订单的平均价值同比增长4.5%。</p><p>不过餐饮外卖业务变现率,由2019年同期的13.9%,降至2020年第三季度的13.6%。</p><p>同时,三季度,美团的餐饮外卖收入同比增长32.8%,至206.93亿元。餐饮外卖业务的经营溢利,由2019年第三季度的3.31亿元,增加至2020年第三季度的7.69亿元。</p><p>经营利润率也由2.1%,升至3.7%。</p><p><img src=\"https://static.tigerbbs.com/63a5f41af30e93539b4ae1ef45e182c6\" tg-width=\"640\" tg-height=\"362\"></p><p>财报解释了,夏季通常是餐饮外卖业务的旺季。</p><p>但是环比看,杠杆游戏注意到,美团的餐饮外卖部分的经营溢利,由2020年第二季度的13亿元,减至2020年第三季度的8亿元。美团的解释是:</p><p>乃主要由于暑假期间外卖骑手成本以及销售及营销开支增加。</p><p>环比看,餐饮外卖部分经营利润率由二季度的8.6%,减至3.7%。原因是:</p><p>乃主要由于向外卖骑手提供季节性及临时补贴,导致餐饮外卖骑手成本较高;及在线营销收入的占比下降,收入组合因而出现变化。</p><p>和同行比,阿里包含饿了么在内的整个本地生活不到100亿元,和美团餐饮外卖约207亿元的收入比起来,明显要低。</p><p>客观来说,一些数据所言,美团外卖APP的MAU(月活跃用户)被饿了么APP反超,其实还是言过其实。</p><p>但饿了么的发力是真的,战斗尚未终结,美团压力依旧不小。</p><p><b>2、到店、酒店及旅游业务扭转负增长局面</b></p><p>值得一说的是,美团的到店、酒旅及旅游业务,扭转了前两季度的负增长局面,收入64.78亿元,同比上涨4.8%。</p><p>涨幅虽然很低,但是考虑到今年的黑天鹅影响如此大,有增长算是很不错的事。</p><p>同时,这部分获得27.87亿元的经营溢利,同比上涨19.5%。如下图。</p><p><img src=\"https://static.tigerbbs.com/94d2eebfc57615409b8f4ad66e3f505c\" tg-width=\"640\" tg-height=\"371\"></p><p>如美团CFO陈少晖所言:</p><p>到店业务的增长主要由医疗健康、宠物护理、家政服务等领域推动,商家投入了更多营销投放;此外,低星酒店在疫情过后业绩恢复更快,从间夜量的角度三季度美团已成为最大的酒店预定平台。</p><p>注意细节,美团的到店、酒店及旅游业务经营溢利,由2020年二季度的19亿元增长47.4%,达到2020年三季度的约28亿元,涨幅不错。</p><p>经营利润率环比增长1.4个百分点,至43.0%。</p><p>和去年同期比,到店、酒店及旅游业务的经营溢利,由去年同期的23亿元增至28亿元,经营利润率则由37.7%升至43.0%。</p><p>也有观点认为,含金量最高的到店利润同比增速只有19.5%,还是有些遗憾。同时,经营现金流恢复一般。这个看法杠杆游戏觉得也有道理。</p><p>有报道就说,消费者和店家都很精明。有些用户只是通过美团这个渠道来看产品,然后直接去线下下单,而且商家也乐于让用户线下下单,这样少被美团抽成。</p><p>无论如何,美团的到店业务营销需求恢复步入正轨。到店分部的佣金收入及在线营销服务收入,三季度录得同比正向增长。</p><p>可以预见,如果黑天鹅控制得好,美团的到店、酒店及旅游业务四季度会获得还不错的业绩。</p><p>唯一的问题,杠杆游戏认为是,和同行比到底算好还是差?在投资人眼中,算好还是不够好?</p><p><b>3、新业务及其他到底表现如何?</b></p><p>新业务及其他业务依旧是经营亏损。由2020年二季度的亏约15亿元,扩大39.0%至2020年三季度的亏约20亿元。美团解释:</p><p>乃主要由于(业务扩充令食杂零售业务的经营亏损增加。</p><p>财报同时披露,该部分的经营利润率,由负值25.9%,环比收窄1.2个百分点至负值24.7%,乃主要由于部分新业务的经营杠杆作用提高,部分被收入组合变化导致溢利率下跌所抵销。</p><p><img src=\"https://static.tigerbbs.com/ab92727459a507487c5dfc8bbc8cd909\" tg-width=\"640\" tg-height=\"326\"></p><p>虽然亏损,但新业务及其他业务在第三季度的营收,同比增速是三大板块中最高,同比增长43.5%,录得营收82.30亿元。如上文第二部分图。</p><p>不过如果看同比亏损额度,增加68.8%。去年同期,只有12亿元的亏损。美团认为:</p><p>主要是扩大了B2B餐饮供应链服务、美团买菜、美团优选及美团闪购等业务,以满足用户不断增长的需求;但部分收入被餐厅管理系统及网约车服务收入减少所抵销。</p><p>社区团购、卖菜业务备受关注。目前社区团购已成为互联网巨头押注的新赛道。杠杆游戏注意到,除了美团,滴滴、拼多多、阿里、京东等公司均投入大量资源在二三线城市跑马圈地。</p><p>三季度,美团优选疯狂推进它的“千城计划”,要在年内实现“千城”覆盖。</p><p>这一领域的竞争短期不会分出胜负,各家公司为了地盘和市值、估值都很拼。美团老板王兴就称,生鲜等“有得打”。</p><p>对于美团也好,其他公司也罢,这块业务必然拖累利润。当然,先有份额和规模,以后再收割回报,这是互联网的铁逻辑。</p><p>总之一句话,先烧钱,这是无疑的。否则,一席之地都不会有。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/337fae570d013ae2e12c40a9b753776d","relate_stocks":{"03690":"美团-W"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192548483","content_text":"12月2日,美团跌幅持续扩大,截止发稿,股价跌超7%,报268港元,市值1.58万亿港元。1个多月前的10月底,美团点评宣布更改公司名字。“美团”+“点评”,这两个曾经行业头部的公司组合起来的名字,再也不会出现在任何上市公司公告中。从此世上只有美团-W,不再有美团点评。美团、点评都是杠杆游戏以前常用的应用,这个细节的变迁,不免让人有些伤感。新名新气象,1个来月后的11月30日,美团发布3季报。一扫前2个季度,特别是一季度的阴霾,营收354.01亿元,比2019年3季度的274.94亿元增长28.8%。最受瞩目的要数经营溢利67.24亿元,同比大涨364.6%。这主要得益于理想汽车上市等带来的投资收益。如果除掉这部分,也就不那么好看了。难怪有媒体说,美团“炒股”保利润。三季报这一表现没有赢得市场的欢心。11月30日、12月1日,连续2日在港股的表现都不如人意,如下图。作为我国市值第三的互联网企业,在互联网反垄断、饿了么硬干的背景下,美团到底如何,其各大业务板块发展情况、盈利能力,是否经得起长期考验?1、餐饮外卖有得有失,饿了么掀起反攻战2020年三季度,美团的餐饮外卖业务交易金额,增长不错。同比增长36.0%,达1522亿元。财报披露,餐饮外卖日均交易笔数同比增长30.1%至34.9百万笔。每笔餐饮外卖业务订单的平均价值同比增长4.5%。不过餐饮外卖业务变现率,由2019年同期的13.9%,降至2020年第三季度的13.6%。同时,三季度,美团的餐饮外卖收入同比增长32.8%,至206.93亿元。餐饮外卖业务的经营溢利,由2019年第三季度的3.31亿元,增加至2020年第三季度的7.69亿元。经营利润率也由2.1%,升至3.7%。财报解释了,夏季通常是餐饮外卖业务的旺季。但是环比看,杠杆游戏注意到,美团的餐饮外卖部分的经营溢利,由2020年第二季度的13亿元,减至2020年第三季度的8亿元。美团的解释是:乃主要由于暑假期间外卖骑手成本以及销售及营销开支增加。环比看,餐饮外卖部分经营利润率由二季度的8.6%,减至3.7%。原因是:乃主要由于向外卖骑手提供季节性及临时补贴,导致餐饮外卖骑手成本较高;及在线营销收入的占比下降,收入组合因而出现变化。和同行比,阿里包含饿了么在内的整个本地生活不到100亿元,和美团餐饮外卖约207亿元的收入比起来,明显要低。客观来说,一些数据所言,美团外卖APP的MAU(月活跃用户)被饿了么APP反超,其实还是言过其实。但饿了么的发力是真的,战斗尚未终结,美团压力依旧不小。2、到店、酒店及旅游业务扭转负增长局面值得一说的是,美团的到店、酒旅及旅游业务,扭转了前两季度的负增长局面,收入64.78亿元,同比上涨4.8%。涨幅虽然很低,但是考虑到今年的黑天鹅影响如此大,有增长算是很不错的事。同时,这部分获得27.87亿元的经营溢利,同比上涨19.5%。如下图。如美团CFO陈少晖所言:到店业务的增长主要由医疗健康、宠物护理、家政服务等领域推动,商家投入了更多营销投放;此外,低星酒店在疫情过后业绩恢复更快,从间夜量的角度三季度美团已成为最大的酒店预定平台。注意细节,美团的到店、酒店及旅游业务经营溢利,由2020年二季度的19亿元增长47.4%,达到2020年三季度的约28亿元,涨幅不错。经营利润率环比增长1.4个百分点,至43.0%。和去年同期比,到店、酒店及旅游业务的经营溢利,由去年同期的23亿元增至28亿元,经营利润率则由37.7%升至43.0%。也有观点认为,含金量最高的到店利润同比增速只有19.5%,还是有些遗憾。同时,经营现金流恢复一般。这个看法杠杆游戏觉得也有道理。有报道就说,消费者和店家都很精明。有些用户只是通过美团这个渠道来看产品,然后直接去线下下单,而且商家也乐于让用户线下下单,这样少被美团抽成。无论如何,美团的到店业务营销需求恢复步入正轨。到店分部的佣金收入及在线营销服务收入,三季度录得同比正向增长。可以预见,如果黑天鹅控制得好,美团的到店、酒店及旅游业务四季度会获得还不错的业绩。唯一的问题,杠杆游戏认为是,和同行比到底算好还是差?在投资人眼中,算好还是不够好?3、新业务及其他到底表现如何?新业务及其他业务依旧是经营亏损。由2020年二季度的亏约15亿元,扩大39.0%至2020年三季度的亏约20亿元。美团解释:乃主要由于(业务扩充令食杂零售业务的经营亏损增加。财报同时披露,该部分的经营利润率,由负值25.9%,环比收窄1.2个百分点至负值24.7%,乃主要由于部分新业务的经营杠杆作用提高,部分被收入组合变化导致溢利率下跌所抵销。虽然亏损,但新业务及其他业务在第三季度的营收,同比增速是三大板块中最高,同比增长43.5%,录得营收82.30亿元。如上文第二部分图。不过如果看同比亏损额度,增加68.8%。去年同期,只有12亿元的亏损。美团认为:主要是扩大了B2B餐饮供应链服务、美团买菜、美团优选及美团闪购等业务,以满足用户不断增长的需求;但部分收入被餐厅管理系统及网约车服务收入减少所抵销。社区团购、卖菜业务备受关注。目前社区团购已成为互联网巨头押注的新赛道。杠杆游戏注意到,除了美团,滴滴、拼多多、阿里、京东等公司均投入大量资源在二三线城市跑马圈地。三季度,美团优选疯狂推进它的“千城计划”,要在年内实现“千城”覆盖。这一领域的竞争短期不会分出胜负,各家公司为了地盘和市值、估值都很拼。美团老板王兴就称,生鲜等“有得打”。对于美团也好,其他公司也罢,这块业务必然拖累利润。当然,先有份额和规模,以后再收割回报,这是互联网的铁逻辑。总之一句话,先烧钱,这是无疑的。否则,一席之地都不会有。","news_type":1},"isVote":1,"tweetType":1,"viewCount":656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":398097911,"gmtCreate":1606787577733,"gmtModify":1703844414183,"author":{"id":"3554805066370551","authorId":"3554805066370551","name":"多猫猫","avatar":"https://static.tigerbbs.com/cf49824fe3935484d8ee70226e3c98e1","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3554805066370551","authorIdStr":"3554805066370551"},"themes":[],"htmlText":"<a 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