China’s Meituan beats quarterly revenue estimates

2 weeks ago 31

BEIJING : Chinese food delivery giant Meituan reported on Friday better than expected quarterly revenue growth of 28.2 per cent as the company recovered from COVID-19 curbs.

Meituan, whose services also include restaurant reviews and bike-sharing, said total revenue rose to 62.62 billion yuan ($8.74 billion) in the three months ended September, compared with analysts' average estimate of 61.79 billion yuan, according to Refinitiv data.

($1 = 7.1615 Chinese yuan renminbi)

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