Grab SDRs Jump on Stronger 2Q Profit, Higher Earnings Guidance
Dow Jones08-04
0124 GMT - Singapore depository receipts of Grab are higher following the ride-hailing company's stronger 2Q profit and upward revision to its annual adjusted Ebitda guidance. Grab's overall results appear solid to Citi analysts, who describe the deliveries segment's performance as particularly strong. They expect the company to offer more clarity on its revised guidance during its post-results briefing. Grab could also comment on its mobility segment's 2H Ebitda margin trend after it added a commission cap for two-wheeler rides, the analysts say. The SDRs are up 7.5% at 2.44 Singapore dollars, their largest gain since listing on July 22. Grab's Nasdaq-listed shares closed 4.9% higher at US$3.67 overnight.
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