Meesho beats Q1 revenue estimates as marketplace growth narrows loss

Meesho Ltd kicked off the June-quarter earnings season for consumer internet firms on Thursday, reporting a narrower-than-expected quarterly loss, as strong marketplace growth and improving profitability offset investments in artificial intelligence (AI), logistics and newer businesses.

The Bengaluru-based company reported consolidated revenue from operations of ₹3,712.8 crore for the quarter ended 30 June, higher than Bloomberg’s consensus estimate of ₹3,601.5 crore based on seven analyst forecasts.