Food delivery giant Meituan posts 35 per cent quarterly revenue increase as pandemic-hit consumer spending recovers

Source: South China Morning PostMeituan, China’s largest food delivery platform, beat fourth-quarter revenue estimates, which rose 35 per cent to 37.9 billion yuan (US$5.8 billion), as both its online delivery service and offline businesses continue to recover from a drop in consumer spending during the pandemic.Revenue for the Beijing-based company beat the market composite estimate of 36 billion yuan based on a Bloomberg analyst survey, and it was up from 28 billion yuan during the same quarter last year ended December…Read More

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