Chinese language meals supply agency Meituan says quarterly income jumps

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FILE PHOTO: Drivers of meals supply service Meituan are seen in Shanghai, China June 25, 2018. Information/Aly Music/File Photograph

BEIJING/SHANGHAI (Information) – Chinese language meals supply large Meituan Dianping mentioned third-quarter income climbed 44.1%, beating analysts’ expectations.

Income for China’s third-biggest web firm by market worth got here in at 27.49 billion yuan ($three.5 billion) for the July-September quarter, up from 19.1 billion yuan in the identical interval a 12 months earlier.

That compares with a market consensus estimate of 25.92 billion yuan drawn from 11 analysts, in accordance with Refinitiv I/B/E/S knowledge.

It booked a internet revenue of 1.33 billion yuan, its second consecutive quarter of revenue since itemizing final September.

Reporting by Yingzhi Yang and Brenda Goh; Modifying by Edwina Gibbs and Edmund Blair