Grab lifts forecast as earnings top estimates

Quick Summary:

The super-app operator Grab has raised its earnings forecast for the year after quarterly profit topped estimates, helped by cost cuts to tackle the effects of intense competition in Southeast Asia’s ride-hailing and delivery markets.

The Singapore-based company is focused on profits after years of spending to grow its market share and fend off competition.

Demand is increasing at a slower pace as Grab’s customer base expands and consumers are less eager to hail a ride or get food delivered to their door in a challenging macroeconomic climate.

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Article Details

Category: EconomyBusiness

Markets: ThailandIndonesiaSingapore

Topics: Southeast Competition Year Analysts Million Grab Earnings Delivery Predicted Spending

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 17:47:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 357 words

Reading Time: 2 minutes read

Sentences: 16 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 23551809

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About Bangkok Post

Main Topics: EconomyBusiness

Official Website: bangkokpost.com

Update Frequency: 6 posts per day

Year Established: 1946

Headquarters: Thailand

News Last Updated: 10 hours ago

Coverage Areas: Thailand

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #66

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