Singapore’s Grab fell after reporting wider-than-estimated loss
Grab $Grab Holdings(GRAB.US$ released its financial results for the second quarter of 2022, which ended on June 30. According to the results, Grab reported revenue of US$321 million for the second quarter, up 79% from US$179 million a year earlier, and a loss of US$572 million, compared to a loss of US$801 million a year earlier, narrowing 29% YoY.
GMV was US$5,055 million, up 30% compared to US$3,878 million in the same period of the previous year.
Revenue was a record $321 million, an increase of 79% compared to $179 million in the same period last year.
The cost of revenue was US$337.0 million, compared to US$266.0 million in the same period last year.
Grab expects full-year 2022 GMV to grow by 21% to 25% year-on-year, down from previous expectations of 30% to 35%. full-year 2022 revenue will reach $1.25 billion to $1.3 billion, compared to previous expectations of $1.2 billion to $1.3 billion.
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