美团-W（03690）绩后涨超3%，截至发稿，股价上涨2.26%，现报79.25港元，成交额14.28亿港元。
美团公布2026年第二季度业绩，收入约1046.43亿元，同比增长14.4%；期内溢利21.55亿元，同比增长4.9倍；经调整溢利净额约25.24亿元，同比增长69%。其中，核心本地商业分部收入同比增长10.1%至715亿元。得益于即时配送业务的盈利能力显著提升，经营溢利转正，达到57亿元；新业务分部收入则同比增长25%至331亿元。
招商证券认为，Q2外卖盈利转正，竞争改善下公司盈利修复路径清晰，且公司在 高价值外卖用户心智及订单市占、经营效率上仍然具备明显领先优势；长期 看公司核心业务成长性与壁垒仍具，海外探索继续打开想象空间。东吴证券表示，二季度核心变化在于收入保持较快增长的同时经营效率明显改善，公司更加重视订单质量、用户结构和投入产出效率，核心业务盈利修复逻辑进一步验证。
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