Grab Holdings Shares Rise 10.78% After Company Reports Higher 2Q Revenue

Dow Jones2023-08-24

Shares of Grab Holdings rose 10.78% on Wednesday on the Nasdaq after the company reported higher revenue in its second-quarter financial results.

Grab's superapp in Southeast Asia operates across the deliveries, mobility and digital financial services sectors, the company said.

Before the bell Wednesday, Grab reported a second-quarter loss of $148 million on revenue of $567 million. In the year-ago period, the company reported a loss of $572 million on revenue of $321 million. The company also reported cross merchandise value of $5.24 billion in the second quarter, above the $5 billion reported in the year-ago period.

The company said it is expecting fiscal year 2023 revenue in a range of $2.2 billion to $2.3 billion.

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Comments

  • neo26000
    2023-08-24
    neo26000
    So all the restructuring amounted to this. It is always about them ...never us. Need i say more?
  • klarky
    2023-08-24
    klarky
    Let's get back up to $5!
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