Didi Quarterly Revenue Falls After Regulatory Crackdown Affects Business

China’s ride-hailing firm Didi Global reported a 1.7% decline in third-quarter revenue on Wednesday as its Chinese mobility business was hit by a regulatory crackdown.

Following the company’s listing on the New York Stock Exchange in June, Chinese officials asked Didi to remove its app from mobile app stores in China, as the Cyberspace Administration of China (CAC) was investigating its handling of customer data.

Revenue for the third quarter ended September 30 fell to 42.7 billion yuan ($6.71 billion) from 43.4 billion yuan a year earlier.

The net loss attributable to common shareholders was 25.91 yuan.

($1 = 6.3680 Chinese Yuan Renminbi)

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