Singapore ride-hailing firm Grab beats on revenue, pulls forward profitability timeline
Publishing timestamp: 2023-02-23 10:59:19
Summary
Grab reported strong revenue growth and narrowed losses in its latest earnings report. Revenue for fourth quarter of 2022 grew 310% to $502 million, up from $122 million year ago. Full-year revenue came in at $1.43 billion, up 112% from $675 million in 2021 and exceeding guidance of $1.32 billion to $1.35 billion. Grab expects revenue for 2023 to range between $2.20 billion and $2.30 billion. The company attributed its success to growth in mobility and deliveries categories, incentive cuts and change in business model for certain delivery offerings in one market.
Sentiment: POSITIVE
Keywords: technology, business news, earnings, sea ltd, internet, grab holdings ltd, asia economy,