Chinese food delivery giant Meituan reports 22.6% revenue increase to $11.6bn, surpassing expectations, and first net profit of $350m.

Chinese food delivery giant Meituan reports a 22.6% quarterly revenue increase to $11.6bn, surpassing analyst expectations, and its first net profit of $350m. Meituan, which launched in Hong Kong last year, plans to focus on reducing operating loss in its group-buying grocery unit, Meituan Select, rather than market share growth. The company maintains a 69% share of China's $157bn delivery market.

March 25, 2024
4 Articles

Further Reading