DiDi Shares Drop After Q2, Q3 Results

DiDi Global Inc DIDI reported results for the second and third quarters of 2021.

• Q2 Results: DiDi posted second-quarter 2021 revenue growth of 54.7% year-on-year to RMB48.2 billion. 
• China Mobility revenue rose 52.2% Y/Y to RMB44.8 billion.
• Related Content: Here's How DiDi Looks To Hong Kong Listing
• Operations losses jumped from RMB(0.8) billion to RMB(24.6) billion.
• Core Platform Transactions were 3 billion. Transactions from the China Mobility were 2.6 billion.
• Core Platform, Gross Transaction Value, reached RMB73.3 billion. GTV from China Mobility reached RMB64.6 billion.
• Platform Sales from China Mobility and International segments reached RMB11.5 billion. Platform Sales from the China Mobility segment reached RMB10.7 billion.
• DiDi used RMB1.2 billion in operating cash flow during Q2 and held RMB26.3 billion in cash and equivalents at June end.
• Q3 Results: DiDi posted a third-quarter 2021 revenue decline of 1.7% Y/Y to RMB42.7 billion ($6.6 billion). 
• China Mobility revenue dropped 5.1% Y/Y to RMB39 billion ($6.1 billion).
• Operations losses widened from RMB(1.1) billion to RMB(9.1) billion ($(1.4) billion).
• Core Platform Transactions were 2.9 billion. Transactions of China Mobility were 2.4 billion. 
• Core Platform GTV reached RMB68.7 billion ($10.7 billion). GTV from China Mobility reached RMB58.4 billion ($9.1 billion).
• Platform Sales from China Mobility and International segments were RMB9.7 billion ($1.5 billion). Platform Sales from China Mobility reached RMB8.9 billion ($1.4 billion). 
• DiDi used RMB5.1 billion ($785 million) in operating cash flow during Q3 and held RMB49.3 billion ($7.7 billion) in cash and equivalents at September end.
• Board Change: DiDi elected Yi Zhang as a director, and Daniel Yong Zhang has resigned from the board.
• Yi Zhang is currently Senior Legal Director of Alibaba Group Holding Ltd BABA and general counsel of Alibaba Local Services Company.
• Price Action: DIDI shares traded lower by 5.47% at $4.67 in the premarket session on the last check Thursday.