Analysts on average expected a revenue of 57.88 billion
yuan, data from Refinitiv shows.
Its net loss for the fourth quarter narrowed to 1.08 billion
yuan, from a loss of 5.34 billion yuan a year earlier.
Meituan was hit hard by COVID-19 curbs last year but it
swung to a profit in the third quarter as it cut back investment
on new initiatives.
($1 = 6.8641 Chinese yuan)
(Reporting by Casey Hall; Editing by Himani Sarkar)
SHANGHAI, March 24 - Chinese food delivery giant Meituan posted a bigger-than-expected 21.4% rise in quarterly
revenue on Friday as it fended off competition from powerful
rivals such as Alibaba-backed Ele.me.
Meituan - whose so-called super app provides services
ranging from bike-sharing, movie ticketing, mapping, to food
delivery and restaurant bookings - said its total revenue rose
to 60.13 billion yuan ($8.76 billion) for the three months ended
December, from 49.52 billion yuan a year earlier.
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