Meituan reported fourth-quarter revenue of 88.5 billion yuan, meeting analyst expectations of 87.7 billion yuan amid sluggish Chinese consumption.

Meituan, China’s leading food delivery company, announced its fourth-quarter revenue results on Friday, which aligned closely with analysts’ expectations. The company reported a total revenue of 88.5 billion yuan for the quarter, slightly exceeding the anticipated 87.7 billion yuan as per data from LSEG. This performance occurs in a challenging market characterized by sluggish consumption in China.

In summary, Meituan’s fourth-quarter revenue figures indicate a stable performance in light of prevailing economic challenges. Reporting 88.5 billion yuan, the results were in alignment with market expectations, reflecting the resilience of the food delivery service despite a broader slowdown in consumer spending in China.

Original Source: www.usnews.com

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