Singapore’s Grab Falls After Reporting Wider-Than-Estimated Loss

Bloomberg2022-08-26

Grab Holdings Ltd. shares tumbled after it reported a wider loss than analysts had estimated, a sign of the challenges in turning its ride-hailing and delivery businesses profitable.The Singapore-...

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Comments

慢的老人
2022-08-26
慢的老人
$Grab Holdings(GRAB)$onto your seats for a wild ride. Waiting for the next catalyst or breakthrough.
imsomeonelse
2022-08-26
imsomeonelse
Huhu always losing money
dragon dog
2022-08-26
dragon dog
They have to ask themselves if Uber can do it why can't Grab? Where is the money leaking to
nxw
2022-08-26
nxw
Good
yeo
2022-08-26
yeo
Grab a joke
superguy276
2022-08-26
superguy276
Ok

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Still, that was more than the $335 million loss analysts had projected, according to data compiled by Bloomberg. Grab shares tumbled 12% in US trading and are now down more than 55% this year.Grab’s revenue rose a better-than-expected 79% to $321 million, buoyed by resilient demand from consumers who continued to hail rides and order food despite worsening inflation. That beat the $273.1 million average of analysts’ estimates compiled by Bloomberg.Grab, which had been one of Southeast Asia’s hottest startups and is led by Anthony Tan, has struggled since it went public via a merger with a US blank-check company last year. Its shares have dropped since then as losses piled up during pandemic-era lockdowns and money-losing companies have fallen out of favor with investors.To combat the downturn in ride-hailing, Grab had pivoted to expand into groceries and made a significant investment. But the company said yesterday it decided to shut its dark-store operations in Singapore, Vietnam and the Philippines to cut costs and streamline its deliveries operations, retreating from the earlier strategy.Now Tan must navigate through an era of rising inflation that could dampen demand just as Grab is trying to emerge from Covid challenges. The company has faced increasing competition from GoTo Group and Sea Ltd.Grab said its gross merchandise value will expand 21% to 25% this year, compared with 30% to 35% it had projected previously.Grab anticipates some softening of the food delivery demand, said Chief Executive Officer Tan in a conference call on Thursday.“That’s why we lowered our GMV estimates,” he said.The company reported $2.5 billion in GMV for its delivery arm, which was once touted as a key growth area. 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Waiting for the next catalyst or breakthrough.","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a><v-v data-views=\"0\"></v-v>onto your seats for a wild ride. Waiting for the next catalyst or breakthrough.","text":"$Grab Holdings(GRAB)$onto your seats for a wild ride. Waiting for the next catalyst or breakthrough.","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995551804","repostId":1175576878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9995592459,"gmtCreate":1661478788773,"gmtModify":1676536527330,"author":{"id":"3572697049328629","authorId":"3572697049328629","name":"imsomeonelse","avatar":"https://community-static.tradeup.com/news/dfb0163ed9ade7873cd9b13cd0c2821c","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":7,"crmLevelSwitch":0},"htmlText":"Huhu always losing money","listText":"Huhu always losing money","text":"Huhu always losing money","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995592459","repostId":1175576878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9995590572,"gmtCreate":1661478060798,"gmtModify":1676536527167,"author":{"id":"4112861117016712","authorId":"4112861117016712","name":"dragon dog","avatar":"https://community-static.tradeup.com/news/5d481067e1c28769c62f4bdec1bfb603","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"They have to ask themselves if Uber can do it why can't Grab? Where is the money leaking to","listText":"They have to ask themselves if Uber can do it why can't Grab? Where is the money leaking to","text":"They have to ask themselves if Uber can do it why can't Grab? Where is the money leaking to","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995590572","repostId":1175576878,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9995507988,"gmtCreate":1661477871946,"gmtModify":1676536527100,"author":{"id":"3555755639757611","authorId":"3555755639757611","name":"nxw","avatar":"https://static.tigerbbs.com/0a3041e78835567c8db5934504534a17","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995507988","repostId":1175576878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9995504644,"gmtCreate":1661477829590,"gmtModify":1676536527085,"author":{"id":"3558440698099291","authorId":"3558440698099291","name":"yeo","avatar":"https://static.tigerbbs.com/f2ac157a0de74e3fac334b84c7779a75","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":0},"htmlText":"Grab a joke","listText":"Grab a joke","text":"Grab a joke","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995504644","repostId":1175576878,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9995506310,"gmtCreate":1661477652532,"gmtModify":1676536526998,"author":{"id":"3581742304418428","authorId":"3581742304418428","name":"superguy276","avatar":"https://community-static.tradeup.com/news/5f105caf8fed30c91023f6d925c3da5d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995506310","repostId":1175576878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":67,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1175576878"}