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Q3 revenue up 8.6%; international revenue up 35%

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International expansion weighs on profitability

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Expansion focusing on Latin America

(Adds background and details from earnings release in

paragraphs 2, 4-9)

By Liam Mo and Brenda Goh

BEIJING, Nov 26 (Reuters) - Didi Global reported an 8.6%

rise in third-quarter revenue on Wednesday as the international

expansion of China's largest ride-hailing platform accelerated,

while its domestic market remained stable.

Didi operates China's dominant ride-hailing platform and has

expanded internationally, primarily in Latin America, offering

both ride-hailing and food delivery services.

Revenue reached 58.6 billion yuan ($8.28 billion) for the

three months ended September 30, the company said on Wednesday.

Net profit for the period was 1.5 billion yuan, compared with

900 million yuan in the same period last year.

The international segment, while representing a small

fraction of total revenue, grew 35% to 3.96 billion yuan.

Revenue from Didi's China Mobility segment rose 7.6% to 51.8

billion yuan.

ACCELERATING OVERSEAS INVESTMENT

The company has accelerated overseas investment this year,

notably expanding food delivery to additional cities including

Sao Paulo in August.

The international expansion weighed on profitability, with

adjusted losses from the overseas segment rising by 1.4 billion

yuan to 1.7 billion yuan.

In China, Didi maintains its leading position in

ride-hailing while facing intensifying competition from rivals

including Alibaba ( BABA ) and Meituan ( MPNGF ).

These companies have integrated ride-hailing into broader

digital ecosystems, appealing to users who prefer consolidated

super-apps that connect passengers with multiple service

providers, including smaller regional operators.

Didi resumed expansion in early 2023 after a regulatory

crackdown that began in 2021 when the company pursued a U.S.

initial public offering without Beijing's approval.

($1 = 7.0812 Chinese yuan renminbi)