China food delivery giant Meituan reports wider loss, revenue rises

China food delivery giant Meituan reports wider loss, revenue rises

Menu icons are displayed on the Meituan application on an Apple Inc. iPhone in an arranged photograph taken in Hong Kong, China, on Thursday, Sept. 6, 2018. Photographer: Paul Yeung/Bloomberg

Chinese food delivery giant Meituan on Friday reported a better than expected 30.6% rise in fourth-quarter revenue, at the same time as investment in new initiatives increased losses and costs related to regulatory scrutiny rose.

Meituan, whose services also include restaurant reviews and bike-sharing, said revenue rose to 49.52 billion yuan ($7.78 billion) in the final three months of 2021.

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