Meituan’s global push helps sales and profit beat estimates

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Meituan reported better-than-expected sales and profit in the past quarter after an aggressive push into new markets outside mainland China.
Sales for the three-month period ending in March rose 18% to 86.6 billion yuan ($12.1 billion), while analysts on average expected 85.4 billion yuan. Net income of 10.1 billion yuan also surpassed the average analyst estimate of 8.63 billion yuan.

The Chinese food delivery leader has ramped up efforts over the past year to expand its presence in Hong Kong, the Middle East and beyond with its Keeta app, as it…



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Meituan’s global push helps sales and profit beat estimates


Meituan reported better-than-expected sales and profit in the past quarter after an aggressive push into new markets outside mainland China.
Sales for the three-month period ending in March rose 18% to 86.6 billion yuan ($12.1 billion), while analysts on average expected 85.4 billion yuan. Net income of 10.1 billion yuan also surpassed the average analyst estimate of 8.63 billion yuan.

The Chinese food delivery leader has ramped up efforts over the past year to expand its presence in Hong Kong, the Middle East and beyond with its Keeta app, as it…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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