China Food Delivery Firm Meituan Beats Revenue Estimates Amid Covid Resurgence
KONTAN.CO.ID - BEIJING. Chinese food delivery company Meituan surpassed quarterly revenue estimates on Thursday, despite a resurgence of Covid-19 cases and accompanying restrictions in China restrained its supply and delivery capacity.
Total revenue rose 25% year over year to 46,27 billion yuan (US$ 6,93 billion) for the quarter ended March, compared with analysts' average estimate of 45,04 billion yuan, according to IBES data from Refinitiv.
