$Grab Holdings (GRAB.US)$ Grab raised its earnings forecast ...
Grab raised its earnings forecast for FY24 after narrowing its losses by 54% YoY to US$115m in 1Q24.
In its latest financial statement, Grab said it now expects to record adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) between US$150m-$270m, higher than its previous forecast of US$180m-US$200m.
Grab kept its revenue forecast at US$2.70b-US$2.75b.
The company said it cut its losses for the quarter by US$134m due to improvements in the group's adjusted EBITA and reductions in net interest expenses and share-based compensation expenses.
Loss for the quarter included a US$31m foreign exchange loss and US$94m in non-cash share-based compensation expenses.
Group adjusted EBITDA for 1Q24 was US$62m, an improvement of US$129m YoY, driven by On-Demand gross merchandise value (GMV) and revenue growths.
On-Demand GMV rose 18% YoY to US$4.2b, whilst revenue grew 24% YoY to US$653m.
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Deep SeaOP : Still loss making over 100 million USD. This kind of business model is unsustainable and will fail over time. Junk stock. Not a buy for this kind of business.