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Grab Holdings missed its second-quarter revenue estimates, reporting a 17% year-over-year increase to $664 million, which fell short of the expected $676.9 million. The company also reported a net loss of $53 million, a significant improvement from the $135 million loss in the same quarter of 2023. The shortfall in revenue highlights the challenges faced by the Southeast Asian ride-hailing and delivery firm amid stiff competition, particularly from GoTo. Following the announcement, Grab's shares experienced a decline.
Grab reports Q2 revenue up 17% YoY to $664M, below $676.9M est., and a $53M net loss, down from $135M in Q2 2023, as competition with GoTo weighs on its growth (@oliviapohtech / Bloomberg) https://t.co/JzOvTfkWca 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/e0ZHcB4Z9a
Grab's quarterly revenue growth trails estimates, highlighting the challenges for the Southeast Asian ride-hailing and delivery firm https://t.co/Hd0QEx8CIa
Singapore's Grab misses quarterly revenue estimates, shares drop https://t.co/EqTCNYKn9Y https://t.co/tGxVI8k4TU
