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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.
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El gigante chino de entrega de alimentos Meituan informa un aumento de ingresos del 22,6% a 11.600 millones de dólares, superando las expectativas, y su primera ganancia neta de 350 millones de dólares.