Meituan’s Revenue Jumped After Covid Boosted Meal Delivery
Delivery workers for Meituan in Shanghai, China.
Source: Bloomberg
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Meituan’s revenue surged on strong demand for takeaway, giving the world’s largest meal delivery service more leeway to adjust to China’s sudden Covid reopening.
Sales rose 21% to 60.1 billion yuan ($8.8 billion) in the quarter ended December, against an average projection for 57.9 billion yuan, the company said in a statement Friday. It reported a smaller-than-expected loss of 1.08 billion yuan.