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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