$Grab Holdings(GRAB)$ Grab cut-To The Moon - Tiger Brokers Online Investing Community - To The Moon

$Grab Holdings(GRAB)$ Grab cuts some 1,000 jobs, layoff 'a shortcut to profitability'

Grab, Southeast Asia's biggest ride-hailing and food delivery firm, is rolling out cost-cutting measures to cope with an uncertain macroeconomic backdrop, the Singapore-based company's chief executive told staff in a memo.

The measures include a freeze on most hiring, salary freezes for senior managers, and cuts in travel and expense budgets, co-founder and CEO Anthony Tan said in the memo which happen on first half of the year. With such measure Grab had successfully achieve they are cost cutting goal and bring profit in Q2 '23.

Key point:

Q2 2023 Revenue grew 77% year-over-year to $567 million[1]

Q2 2023 Loss for the period improved by 74% year-over-year to $148 million

Q2 2023 Adjusted EBITDA improved by 92% year-over-year to $(20) million

Group Adjusted EBITDA breakeven guidance brought forward to Q3 2023 from Q4 2023

Business outlook look great as Mobility revenues continued to grow strongly, rising 29% YoY, or 31% YoY on a constant currency basis, in the second quarter 2023. The increase was mainly attributed to our efforts to improve supply across the region, which enabled us to capture the recovery in tourism ride-hailing demand, and the growth in domestic demand. With lot of tourists coming in the Singapore and I am bullish on Grab Q3 and Q4 performance.

Not investment advice. Do you own due diligence check.

@TigerEvents @TigerStars @Tiger_Earnings @Tiger_SG @MillionaireTiger

Will Grab slide more with focus on ride-hailing services?

Grab fell 8% on Wednesday following an announcement that Singapore's Land Transport Authority will investigate the supply of taxi and ride-hailing services. --------------- Will Grab continue to slide? How will Singapore regulators' focus on ride-hailing services affect Grab? What's your target price for Grab?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Do you own due diligence check.&nbsp;<br></p>\n<p><a href=\"https://ttm.financial/U/3527667667103859\">@TigerEvents&nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a><a href=\"https://ttm.financial/U/3527667620927015\">@Tiger_Earnings&nbsp;</a><a href=\"https://ttm.financial/U/4106547232749330\">@Tiger_SG&nbsp;</a><a href=\"https://ttm.financial/U/3527667618821228\">@MillionaireTiger&nbsp;</a></p></body></html>","htmlText":"<html><head></head><body><a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$&nbsp;</a><v-v data-views=\"1\"></v-v>Grab cuts some 1,000 jobs, layoff 'a shortcut to profitability'&nbsp;\n<p>Grab, Southeast Asia's biggest ride-hailing and food delivery firm, is rolling out cost-cutting measures to cope with an uncertain macroeconomic backdrop, the Singapore-based company's chief executive told staff in a memo.</p>\n<p>The measures include a freeze on most hiring, salary freezes for senior managers, and cuts in travel and expense budgets, co-founder and CEO Anthony Tan said in the memo which happen on first half of the year. With such measure Grab&nbsp;had successfully achieve they are cost cutting goal and bring profit in Q2 '23.&nbsp;</p>\n<p>Key point:&nbsp;</p>\n<p>Q2 2023 Revenue grew 77% year-over-year to $567 million[1]</p>\n<p></p>\n<p>Q2 2023 Loss for the period improved by 74% year-over-year to $148 million</p>\n<p>Q2 2023 Adjusted EBITDA improved by 92% year-over-year to $(20) million</p>\n<p>Group Adjusted EBITDA breakeven guidance brought forward to Q3 2023 from Q4 2023</p>\n<p>Business outlook look great as Mobility revenues continued to grow strongly, rising 29% YoY, or 31% YoY on a constant currency basis, in the second quarter 2023. The increase was mainly attributed to our efforts to improve supply across the region, which enabled us to capture the recovery in tourism ride-hailing demand, and the growth in domestic demand. With lot of tourists coming in the Singapore and I am bullish on Grab Q3 and Q4 performance.</p>\n<p>Not investment advice. Do you own due diligence check.&nbsp;<br></p>\n<p><a href=\"https://ttm.financial/U/3527667667103859\">@TigerEvents&nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a><a href=\"https://ttm.financial/U/3527667620927015\">@Tiger_Earnings&nbsp;</a><a href=\"https://ttm.financial/U/4106547232749330\">@Tiger_SG&nbsp;</a><a href=\"https://ttm.financial/U/3527667618821228\">@MillionaireTiger&nbsp;</a></p></body></html>","text":"$Grab Holdings(GRAB)$ Grab cuts some 1,000 jobs, layoff 'a shortcut to profitability' Grab, Southeast Asia's biggest ride-hailing and food delivery firm, is rolling out cost-cutting measures to cope with an uncertain macroeconomic backdrop, the Singapore-based company's chief executive told staff in a memo. The measures include a freeze on most hiring, salary freezes for senior managers, and cuts in travel and expense budgets, co-founder and CEO Anthony Tan said in the memo which happen on first half of the year. With such measure Grab had successfully achieve they are cost cutting goal and bring profit in Q2 '23. Key point: Q2 2023 Revenue grew 77% year-over-year to $567 million[1] Q2 2023 Loss for the period improved by 74% year-over-year to $148 million Q2 2023 Adjusted EBITDA improved by 92% year-over-year to $(20) million Group Adjusted EBITDA breakeven guidance brought forward to Q3 2023 from Q4 2023 Business outlook look great as Mobility revenues continued to grow strongly, rising 29% YoY, or 31% YoY on a constant currency basis, in the second quarter 2023. The increase was mainly attributed to our efforts to improve supply across the region, which enabled us to capture the recovery in tourism ride-hailing demand, and the growth in domestic demand. With lot of tourists coming in the Singapore and I am bullish on Grab Q3 and Q4 performance. Not investment advice. 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