China’s Didi Swings to Profit in Fourth Quarter

(Reuters) – Didi Global, China’s largest ride-hailing company, on Saturday reported a fourth-quarter profit, indicating that the Chinese ride-hailing leader has gradually recovered from difficulties after prolonged regulatory scrutiny.

Didi Global reported net income attributable to shareholders of 818 million yuan ($113.15 million) in the three months ending Dec. 31, compared with a loss of 953 million yuan a year ago. Revenues jumped 55.4% to 49.4 billion yuan for the quarter.

($1 = 7.2293 Chinese yuan renminbi)

(Reporting by Jyoti Narayan in Bengaluru. Editing by Gerry Doyle)

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