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, and 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.
