China's Meituan reported quarterly loss as it expands into new area

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(Corrects new initiatives' revenue figure)
By Yingzhi Yang and Ryan Woo
BEIJING (Reuters) - Chinese food delivery company Meituan reported a loss on Friday for October-December after two consecutive quarters of profit, as it expanded into the community group-buying business that relies heavily on subsidies.
It reported a loss of 2.24 billion yuan ($343 million) versus profit of 1.46 billion yuan in the same quarter a year earlier, the company said in a stock exchange filing.
Meituan, whose services also include restaurant reviews and bike sharing, said total revenue rose 34.7% in October-December from a year earlier to 37.92 billion yuan. That compared with the 39.17 billion yuan average of 14 analyst estimates, IBES data from Refinitiv showed.
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