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China's Meituan Dianping posts narrower 1Q loss

HONG KONG (Nikkei Markets) -- China's Meituan Dianping on Thursday reported a narrower loss in the first quarter, as the Chinese food-delivery company's revenue jumped on higher orders and improvement in average value per order.

Net loss for the quarter ended March stood at 1.43 billion yuan ($207.21 million), compared with a loss of 21.06 billion yuan a year ago, the company said in an exchange filing. Revenue surged 70.1% to 19.17 billion yuan.

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