Chinese food delivery giant Meituan beats revenue estimates

SHANGHAI: Chinese food delivery giant Meituan posted a bigger than expected 21 per cent rise in second-quarter revenue on Wednesday (Aug 28), defying a slowing Chinese economy.
Meituan, which has an app that provides services as varied as bike-sharing, ticket-booking and maps, reported revenue in the three months to Jun 30 at 82.3 billion yuan (US$11.55 billion), up from 67.9 billion yuan in the same period a year earlier. 
That compared with 81 billion yuan average of analyst estimates compiled by LSEG.