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

67
8
Favorite

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-...

Source Link

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.

Report

Comment（8）

慢的老人
·2022-08-26
$Grab Holdings(GRAB)$onto your seats for a wild ride. Waiting for the next catalyst or breakthrough.
Reply
2
Report
imsomeonelse
·2022-08-26
Huhu always losing money
Reply
Like
Report
dragon dog
·2022-08-26
They have to ask themselves if Uber can do it why can't Grab? Where is the money leaking to
Reply
1
Report
nxw
·2022-08-26
Good
Reply
1
Report
yeo
·2022-08-26
Grab a joke
Reply
2
Report
superguy276
·2022-08-26
Ok
Reply
1
Report
melson
·2022-08-26
baby steps
Reply
2
Report
UTOtrader
·2022-08-26
T
Reply
1
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1175576878?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-08-26 09:29","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1175576878","market":"us","top_or_hot":-1,"title":"Singapore’s Grab Falls After Reporting Wider-Than-Estimated Loss","media":"Bloomberg","content":"<div>\n<p>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-...</p>\n\n<a href=\"https://finance.yahoo.com/news/singapore-grab-shows-signs-revival-111635989.html\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore’s Grab Falls After Reporting Wider-Than-Estimated Loss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore’s Grab Falls After Reporting Wider-Than-Estimated Loss\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-26 09:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/singapore-grab-shows-signs-revival-111635989.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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-...</p>\n\n<a href=\"https://finance.yahoo.com/news/singapore-grab-shows-signs-revival-111635989.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GRAB","symbol_name":"Grab Holdings","start_time":0,"source_url":"https://finance.yahoo.com/news/singapore-grab-shows-signs-revival-111635989.html","article_id":"1175576878","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175576878","pubTimestamp":1661477361,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Grab Holdings Ltd. shares tumbled after it reported a wider loss than analysts had estimated, a sign","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GRAB":"Grab Holdings"},"translate_title":"新加坡在公布比预期更大的损失后，抢购量下降","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GRAB":0.9},"content_text":"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-based company said its net loss for the second quarter was about $547 million, contracting almost 30% from a year earlier. 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. That fell short of its own projections of up to $2.65 billion for the quarter as consumers ordered less takeout and groceries online after pandemic-era restrictions receded.While the company’s overall second quarter results were “solid,” deliveries GMV came in below expectations and total net loss was wider than Citigroup’s estimate, analyst Alicia Yap said in a report.Key InsightsSecond-quarter revenue from Grab’s delivery business almost tripled to $134 million.Revenue from its mobility arm gained 37% to $161 million.Revenue from financial services rose to $13 million.Grab’s cash and cash equivalents fell to $2.8 billion at the end of June from about $3.4 billion at the end of March.Partner incentives climbed 23% to $212 million, while consumer incentives rose 28% to $311 million.Monthly transacting users grew 12% to 32.6 million.Get MoreEarlier this month, Grab and rivals Foodpanda and Deliveroo Plc formed an unlikely partnership to strengthen their influence with the Singapore government as it considers laws that could transform the gig economy. Legislation that seeks to protect the interest and safety of thousands of drivers could impact companies like Grab, who have benefited from having people work for them without shouldering traditional responsibilities of a direct employer.Grab’s GMV, the sum of transactions flowing through its platform, rose 30% to $5.1 billion.Grab expects deliveries GMV to hit as much as $2.5 billion in the third quarter; mobility GMV to reach up to $1.1 billion; TPV for financial services to rise to as much as $3.9 billion.Market ReactionGrab shares fell 12% to $3.16.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9995551804,"gmtCreate":1661485440111,"gmtModify":1676536528906,"author":{"id":"3582028884093480","authorId":"3582028884093480","name":"慢的老人","avatar":"https://static.tigerbbs.com/d8809bb976396889eb133162af0901b8","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3582028884093480","authorIdStr":"3582028884093480"},"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a><v-v data-views=\"0\"></v-v>onto your seats for a wild ride. Waiting for the next catalyst or breakthrough.","listText":"<a href=\"https://ttm.financial/S/GRAB\">$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/9294e9e7f11f190688efe808098fa12b","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3572697049328629","authorIdStr":"3572697049328629"},"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,"idStr":"4112861117016712","authorIdStr":"4112861117016712"},"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,"idStr":"3555755639757611","authorIdStr":"3555755639757611"},"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,"idStr":"3558440698099291","authorIdStr":"3558440698099291"},"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,"idStr":"3581742304418428","authorIdStr":"3581742304418428"},"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"},{"id":9995508622,"gmtCreate":1661477604969,"gmtModify":1676536526982,"author":{"id":"4123471905369072","authorId":"4123471905369072","name":"melson","avatar":"https://community-static.tradeup.com/news/fe7079b4776e26217c92d8df6830df10","vip":1,"hat":"https://static.tigerbbs.com/ae1f49570794979e009a5efdeb6f4789","crmLevel":5,"crmLevelSwitch":1,"idStr":"4123471905369072","authorIdStr":"4123471905369072"},"htmlText":"baby steps","listText":"baby steps","text":"baby steps","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995508622","repostId":1175576878,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9995501711,"gmtCreate":1661477521335,"gmtModify":1676536526964,"author":{"id":"3574547619690492","authorId":"3574547619690492","name":"UTOtrader","avatar":"https://static.tigerbbs.com/82be6befb29ac8516e463638d3f659d5","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3574547619690492","authorIdStr":"3574547619690492"},"htmlText":"T","listText":"T","text":"T","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995501711","repostId":1175576878,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":67,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}