financetom
World
financetom
/
World
/
Singapore's Grab misses quarterly revenue estimates, shares drop
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Singapore's Grab misses quarterly revenue estimates, shares drop
Aug 15, 2024 4:19 AM

(Reuters) - Grab Holdings ( GRAB ) missed second-quarter revenue estimates as demand faltered in its ride-share and food-delivery services, sending its U.S.-listed shares down 7% in premarket trading on Thursday.

Revenue rose 17% to $664 million in the quarter ended June 30, compared with analysts' estimates of $673.3 million, according to LSEG data.

Sales from the food delivery business - its largest - grew 11% to $356 million, lower than Visible Alpha estimates of $362.1 million. Ride-share revenue grew a worse-than-expected 14%.

Grab, which competes with Gojek, now part of Indonesia's GoTo Gojek Tokopedia, said in February revenue growth will accelerate in the years beyond 2024 as investments in new products bear fruit.

The company retained its full-year revenue forecast of $2.70 billion to $2.75 billion.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
British equities recover from Friday's selloff as banks rally
British equities recover from Friday's selloff as banks rally
Aug 4, 2025
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * FTSE 100 up 0.5%, FTSE 250 UP 0.6% * UK's bank shares jump after Supreme Court ruling on car loan claims * BP UP on major oil and gas discovery in Brazil's Santos basin Aug 4 (Reuters) - Bank...
METALS-Copper climbs on supply disruptions after Chile tragedy
METALS-Copper climbs on supply disruptions after Chile tragedy
Aug 4, 2025
(Adds analyst comment and dateline, updates prices) By Eric Onstad LONDON, Aug 4 (Reuters) - Copper prices rose 1% on Monday on supply fears after a fatal mining collapse in Chile, the world's biggest producer, but gains were capped by concerns over the global economy. Three-month copper on the London Metal Exchange reached $9,722.50 a metric ton by 0930 GMT,...
CEE MARKETS-Central Europe's currencies hold at stronger levels
CEE MARKETS-Central Europe's currencies hold at stronger levels
Aug 4, 2025
PRAGUE, Aug 4 (Reuters) - Central European currencies eased a touch on Monday but clung to higher ground after a weaker U.S. dollar gave them a lift late last week, while investors awaited inflation data and central bank meetings in the region in the coming days. With Czech monetary policymakers widely expected to hold interest rates steady on Thursday for...
Central Bank Outlooks Unevenly Lift Asian Stock Markets
Central Bank Outlooks Unevenly Lift Asian Stock Markets
Aug 4, 2025
06:46 AM EDT, 08/04/2025 (MT Newswires) -- Asian stock markets largely tracked higher Monday, lifted by the prospect of softer global interest rates after a weak US jobs report on Friday increased the odds for US rate cuts in the second half of 2025. Hong Kong and Shanghai finished in the green, while Tokyo fell back. Other regional exchanges were...
Copyright 2023-2026 - www.financetom.com All Rights Reserved