Meituan’s Revenue Jumped After Covid Boosted Meal Delivery

(Bloomberg) ― Meituan’s revenue surged on strong demand for takeaway, giving the world’s largest meal delivery service more leeway to adjust to China’s sudden Covid reopening.

Sales rose 21% to 60.1 billion yuan ($8.8 billion) in the quarter ended December, against an average projection of 57.9 billion yuan, the company said Friday in a statement. It reported a smaller-than-expected loss of 1.08 billion yuan.