Meituan posts 77 per cent quarterly revenue growth despite concerns over antitrust investigation

//Meituan posts 77 per cent quarterly revenue growth despite concerns over antitrust investigation

Meituan posts 77 per cent quarterly revenue growth despite concerns over antitrust investigation

Meituan, operator of China’s largest food delivery and on-demand local services platform, beat second-quarter estimates with a 77 per cent revenue growth, despite the government’s antitrust investigation and the regulatory scrutiny of the country’s technology sector.Beijing-based Meituan posted revenue of 43.8 billion yuan (US$6.8 billion) in the quarter ended June, up from 24.7 billion yuan a year ago, on the back of stellar growth from its food delivery and new business initiatives. That beat…

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By | 2021-08-30T09:10:46+00:00 August 30th, 2021|Technology|Comments Off on Meituan posts 77 per cent quarterly revenue growth despite concerns over antitrust investigation