Meituan Outperformance May Gather Pace as Sales Bump Expected
Meituan’s shares have advanced more than 4% over the past month, versus declines in Alibaba, JD, and PDD Holdings Inc.
Source: Bloomberg
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A surge in sales expected for Meituan may be a catalyst to its shares, which have outperformed peers as services spending turns out to be a rare bright spot amid deepening investor pessimism.
The world’s largest meal delivery service is forecast to report a 32% surge in revenue for the second quarter later Thursday, its fastest growth since 2021, Bloomberg compiled data show. Such topline growth would beat Alibaba Group Holding Ltd.’s 14% increase and JD.com’s 7.6% rise reported earlier this month.