$Grab Holdings (GRAB.US)$ Grab forecast a smaller operating ...
Grab forecast a smaller operating loss for the current year and pulled forward its profitability timeline, as cost savings from its recent workforce reduction supplement strong demand for its food delivery and ride-share services.
The firm also delivered better-than- expected results for the last quarter.
The firm also delivered better-than- expected results for the last quarter.
The company now expects to break even on an adjusted core earnings basis in the current quarter ending September, ahead of its earlier fourth-quarter target. Moreover, it expects USD80 million in annualised cost savings from the recent changes, including layoffs.
In the quarter ended Jun 30, the company's revenue increased 77%, to UD567 million, surpassing analysts' estimate of US$546.1 million, according to Refinitiv data.
Sales from the food delivery business - its largest - more than doubled, while those from the ride-share business grew 29%. Delivery sales were marginally lower than Refinitiv estimates.
Sales from the food delivery business - its largest - more than doubled, while those from the ride-share business grew 29%. Delivery sales were marginally lower than Refinitiv estimates.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moo Contributor
Follow me to get useful analysis, learn TA and make profitable trades.
Maximise profit 利润最大化
6649Followers
57Following
24KVisitors
Follow
Dons hobby : Great info as always my friend, I Hope you have been killing it Bull
bullrider_21OP Dons hobby: Thanks my friend. Doing not too well. How about you Don?
Dons hobby bullrider_21OP: I am about 13% up for the month so nothing monumental, but I will take green any way any day. I am holding AWIN, I have learned to keep my plays down to 2 stocks at the most at one time. Less chance I can mess something up somehow lol.
Dons hobby Dons hobby: I have learned it's a lot harder to call 3 or 4 stocks in the green than 1 or 2
bullrider_21OP Dons hobby: Yes, just pick 1-2 good stocks.