(Bloomberg) — Luckin Coffee Inc., the chain that’s trying to overtake Starbucks Corp. in China, reported better-than-expected revenue in its second set of quarterly results since going public.The Xiamen, China-based company had net revenue of 1.54 billion yuan ($219.6 million) for the September quarter, according to a filing Wednesday, compared with the 1.47 billion yuan average of analysts’ estimates. Net loss widened to 531.9 million yuan from 484.9 million yuan a year earlier.Luckin’s latest results provided some comfort to investors who have been looking for progress in the company’s financial position. The shares climbed as much as 15% in New …read more
Source:: Yahoo Finance
