China food delivery firm Meituan’s Q3 revenue beats estimates

SHANGHAI (Reuters) – China’s Meituan posted a bigger-than-expected 22.1% rise in third-quarter revenue on Tuesday, as the country’s largest food delivery firm continued its recovery from the pandemic impact of last year.

The platform, whose app provides services such as bike-sharing, ticket-booking and maps, reported June-September revenue of 76.47 billion yuan ($10.69 billion), versus 62.62 billion yuan in the same period a year earlier.

The result compared with the 75.59 billion average of 15 analyst estimates compiled by LSEG.