Meituan’s Revenue Slows in Latest Sign of China Crackdown Toll
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Meituan’s revenue slowed for the third straight quarter after weakening Chinese consumer spending and regulatory pressures constrained its online food and travel businesses.
The food delivery behemoth’s net loss for the December quarter totaled 5.3 billion yuan ($830 million), versus the 7.2 billion yuan projected. Revenue rose 31%, the slowest in more than a year, to 49.5 billion yuan.