Meituan’s Sales Surge Alongside China’s Appetite for Takeout
- Revenue rises 29%, slightly more than analysts’ projections
- Company is in talks with regulators over antitrust rules
This article is for subscribers only.
Meituan reported a 29% rise in quarterly revenue after China’s economic recovery boosted restaurants and whetted consumers’ appetite for takeout.
The world’s largest meal delivery service posted sales of 35.4 billion yuan ($5.4 billion) during the July-September period, beating the average estimate of 34 billion yuan. It also logged net income of 6.3 billion yuan, versus a projected 435 million yuan. Profit was bolstered by 5.8 billion yuan in investment gains.