Grab Grows Revenues and Lowers Losses

(24/7 Market News)– Grab Holdings Limited (NAS: GRAB) reported its financial results, today, for the quarter ended March 31, 2022.

Highlights include outperforming Q1 GMV and TPV guidance for deliveries, mobility and financial services: GMV of $4.8 billion, grew 32% year-over-year (“YoY”); $228 million revenues is a 6% YoY increase; Delivery business revenues grew 70%, to $91 million; and a 35% reduction in losses for the period.

“We are pleased to report strong first quarter results, with our core segments’ GMV and TPV outperforming the high-end of our guidance range. Revenue rose year-on-year, driven by strong GMV growth and higher commission rates1, while our adjusted EBITDA margins improved from the fourth quarter. Looking ahead, we are focused on growing sustainably by being disciplined with our capital, optimizing our fixed cost base and tapering our incentive spend as the market rationalizes. We believe these actions will put us on a path to achieving segment adjusted EBITDA breakeven for deliveries by the end of 2023,” said Peter Oey, Chief Financial Officer of Grab.

To view the original Grab Holdings original press release:

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.