Meituan’s global push helps sales and profit beat estimates

Meituan reported better-than-expected sales and profit in the past quarter after an aggressive push into new markets outside mainland China.
Sales for the three-month period ending in March rose 18% to 86.6 billion yuan ($12.1 billion), while analysts on average expected 85.4 billion yuan. Net income of 10.1 billion yuan also surpassed the average analyst estimate of 8.63 billion yuan.

The Chinese food delivery leader has ramped up efforts over the past year to expand its presence in Hong Kong, the Middle East and beyond with its Keeta app, as it…