Grab revenue rises, loss narrows on delivery, ride demand

19/5/2022 4:14:00 PM

Grab revenue rises, loss narrows on delivery, ride demand - Bloomberg

Grab revenue rises, loss narrows on delivery, ride demand - Bloomberg

(May 19): Grab Holdings Ltd said revenue rose 6% in the first quarter after the ride-hailing and delivery company won back consumers as the pandemic receded in Southeast Asia.Revenue increased to US$228 million after the Singapore-based company added sales from Jaya Grocer, a platform it acquired in January. That was more than the US$139.2 million analysts were expecting, according to data compiled by Bloomberg. Grab’s net loss narrowed to US$435 million, as the company fights to gain profitability following

(May 19): Grab Holdings Ltd said revenue rose 6% in the first quarter after the ride-hailing and delivery company won back consumers as the pandemic receded in Southeast Asia.Revenue increased to US$228 million after the Singapore-based company added sales from Jaya Grocer, a platform it acquired in January. That was more than the US$139.2 million analysts were expecting, according to data compiled by Bloomberg. Grab’s net loss narrowed to US$435 million, as the company fights to gain profitability following years of heavy spending in pursuit of market share.

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Grab reports rise in revenue on strong demand for food deliveryBENGALURU (May 19): Grab Holdings Ltd, Southeast Asia's No 1 ride-hailing and food-delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.The company also benefited from growing demand for ride-sharing as people resumed their pre-pandemic routines.Grab said gross merchandise volume (GMV), a measure of transaction volume, rose 32% in the first quarter to US$4.8 billion from a year earlier.For the second quarter, Grab forecast GMV for deliveries between US$2.55 billion and US$2.65 And raised delivery fee no wonder premarket UP.

Grab reports rise in revenue on strong demand for food deliveryBENGALURU (May 19): Grab Holdings Ltd, Southeast Asia's No 1 ride-hailing and food-delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.The company also benefited from growing demand for ride-sharing as people resumed their pre-pandemic routines.Grab said gross merchandise volume (GMV), a measure of transaction volume, rose 32% in the first quarter to US$4.8 billion from a year earlier.For the second quarter, Grab forecast GMV for deliveries between US$2.55 billion and US$2.65 And raised delivery fee no wonder premarket UP.

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A (May 19): Grab Holdings Ltd said revenue rose 6% in the first quarter after the ride-hailing and delivery company won back consumers as the pandemic receded in Southeast Asia.BENGALURU (May 19): Grab Holdings Ltd, Southeast Asia's No 1 ride-hailing and food-delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.BENGALURU (May 19): Grab Holdings Ltd, Southeast Asia's No 1 ride-hailing and food-delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.A (May 18): A welcome revival in travel and cargo demand helped Singapore Airlines Ltd narrow losses in the second half of the fiscal year through March, though the high price of oil weighed on the carrier, its annual results showed.

Revenue increased to US$228 million after the Singapore-based company added sales from Jaya Grocer, a platform it acquired in January. That was more than the US$139. Grab said gross merchandise volume (GMV), a measure of transaction volume, rose 32% in the first quarter to US$4.2 million analysts were expecting, according to data compiled by Bloomberg.8 billion from a year earlier. Grab’s net loss narrowed to US$435 million, as the company fights to gain profitability following years of heavy spending in pursuit of market share. For the second quarter, Grab forecast GMV for deliveries between US$2. The company managed to grow paying users 10% to 30. With Singapore further loosening curbs in April, quarantine-free entry is available for inoculated travelers from anywhere.

9 million after Southeast Asian countries removed pandemic-era restrictions.65 billion, and for the mobility segment to be between US$0.65 billion, and for the mobility segment to be between US$0. Per-user spending climbed 19%, it said. Unlike other Internet companies that are grappling with cooling post-Covid online activity, Grab’s car-hailing and delivery businesses benefit as life returned to normal. The company expects supply of cars on the road to stabilise in the second half of the year, and that driver incentives as a percentage of GMV to taper in that period. The company had struggled since becoming a publicly listed company in the US through a merger with a blank-check company in December. Revenue for the first quarter was US$228 million, compared with US$216 million a year earlier. Mounting losses, coupled with a broad tech selloff, have weighed on its shares, which have lost more than 70% since the startup went public. Loss for the period narrowed to US$435 million from US$666 million. Singapore Airlines said its fuel costs more than doubled to S$1.

Key insights Revenue from delivery business jumped 70% to US$91 million Revenue from mobility business declined 22% to US$112 million Revenue from financial services rose to US$11 million Deliveries GMV was US$2.56 billion vs its forecast of US$2.4 billion to US$2.5 billion Mobility GMV was US$834 million vs its forecast of US$750 million to US$800 million The company said it expects full-year revenue to increase to US$1.2 billion to US$1.68 million passengers in the second half, a jump from 710,000 in the previous six months.

3 billion Grab’s cash and cash equivalents fell to US$3.4 billion at the end of March from about US$5 billion at the end of 2021, partly because of cash outflow from operating activities and the acquisition of Jaya Grocer Partner incentives climbed 55% to US$216 million, while consumer incentives rose 85% to US$344 million Grab expects second-quarter deliveries GMV of US$2.55 billion to US$2.65 billion Company sees second-quarter mobility GMV of US$950 million to US$1 billion Grab expects second-quarter financial services total payment volume, before consolidation, to reach US$3.5 billion to US$3. Things look promising, except for oil prices.

6 billion Company sees GMV growing 30% to 35% in 2022 Market reaction Grab shares rose more than 3.5% in pre-market trading in New York. Subscribe to Mid-day email alert We deliver news to your inbox daily .