Meituan Outperformance May Gather Pace as Sales Bump Expected

08/24/2023 10:26
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Meituan Outperformance May Gather Pace as Sales Bump Expected

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.

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

A surge in sales expected for Meituan may be a catalyst to its shares, which have outperformed peers as services spendingBloomberg Terminal turns out to be a rare bright spot amid deepening investor pessimism.

The world’s largest meal delivery service is forecastBloomberg Terminal 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%Bloomberg Terminal increase and JD.com’s 7.6%Bloomberg Terminal rise reported earlier this month.

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Meituan Outperformance May Gather Pace as Sales Bump Expected

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