Chinese food delivery giant Meituan surpassed quarterly revenue estimates on Thursday as a resurgence of COVID-19 cases and accompanying restrictions in China drove up demand for food and grocery deliveries.
Total revenue rose 25% year over year to 46.27 billion yuan ($6.93 billion) for the quarter ended March, compared with analysts' average estimate of 45.04 billion yuan, according to IBES data from Refinitiv.
($1 = 6.6721 Chinese yuan renminbi)
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