Grab misses quarterly revenue estimates on tough competition, net loss narrows to $70 million

Quick Summary:

Second-quarter net loss narrowed from US$135 million a year earlier.

Second-quarter net loss narrowed to US$53 million (S$70.1 million) from US$135 million a year earlier.

Demand is increasing at a slower pace as Grab’s customer base expands and consumers are less willing 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: SingaporeChinaIndonesiaMalaysiaMali

Topics: Company Revenue Grab Year Spending Cent Million South-east Months Market Years

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-16 @ 07:27:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 577 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

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

Copyright Owner: © The Straits Times

News ID: 22091040

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 16 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 45 minutes ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #25

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