China's Meituan posts 16.4% jump in Q2 revenue, beats estimate

BEIJING : Chinese food delivery company Meituan posted a better-than-expected 16.4 per cent rise in quarterly revenue on Friday, as its business fared better than expected in a period that saw a resurgence of COVID-19 cases in China.

Total revenue rose to 50.94 billion yuan ($7.42 billion) for the quarter ended June from a year earlier, beating the 48.59 billion yuan expected on average by 14 analysts, Refinitiv Eikon data showed.

($1 = 6.8623 Chinese yuan renminbi)