Reported 2 days ago
Grab Holdings Ltd. shares fell after the company projected full-year revenue growth that fell short of analyst expectations, amid a challenging Southeast Asian ride-hailing and food delivery market dominated by competitors like GoTo Group. While a rebound in holiday demand helped reduce a quarterly net income decline, the company anticipates sales growth of only 19% to 22%, which is below the anticipated $3.5 billion. As Grab aims for profitability and market consolidation, it is considering a significant merger with GoTo, though regulatory hurdles may complicate this potential deal.
Source: YAHOO