Reported about 2 months ago
Grab Holdings Ltd. experienced a 10% drop in shares after reporting a quarterly revenue of $664 million, which was below analysts' expectations of $676.9 million, reflecting increased competition in the Southeast Asian market. Despite a narrower net loss of $53 million compared to $135 million the previous year, Grab's growth is slowing as consumers respond to rising inflation and interest rates. The company aims for positive free cash flow in FY2024, seeking to demonstrate its path to profitability amid ongoing market challenges.
Source: YAHOO