China food delivery group Meituan beats revenue estimates amid Covid resurgence
Published Thu, Jun 2, 2022 · 05:50 PM
CHINESE food delivery giant Meituan surpassed quarterly revenue estimates on Thursday (Jun 2) as a resurgence of Covid-19 cases and accompanying restrictions in China drove up demand for food and grocery deliveries.
Total revenue rose 25 per cent year over year to 46.27 billion yuan (S$9.5 billion) for the quarter ended March, compared with analysts’ average estimate of 45.04 billion yuan, IBES data from Refinitiv showed. REUTERS
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