Meituan records 77 per cent growth in Q2 revenue, net loss widens due to heavy investment in new initiatives

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China's food delivery and on-demand service giant Meituan reported stronger-than-expected earnings for the second quarter, despite the government’s antitrust investigation and the regulatory scrutiny of the country’s technology sector.

Meituan's revenue jumped 77 per cent year over year in the quarter ended June to 43.8 billion yuan, up from 24.7 billion yuan a year earlier, driven by stellar growth from its food delivery and new business initiatives. That beat the 42 billion yuan expected by analysts in a Bloomberg poll of market analysts.

The company incurred . . .

 

 

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