Meituan’s Revenue Beats Estimates After Staving Off ByteDance
Meituan’s quarterly revenue climbed 23%, a sign that it’s making headway in efforts to fend off a challenge from ByteDance Ltd.’s Douyin in China’s meal delivery arena.The company reported sales of 73.7 billion yuan ($10.2 billion) in the December quarter, versus the 72.7 billion yuan average projection. Net income was 2.22 billion yuan, also better than a consensus of estimates compiled by Bloomberg....
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