Summary by Moomoo AI
Grab Holdings, the Southeast Asian superapp, reported a positive fourth quarter for 2023 with a 30% year-over-year revenue increase to $653 million and a profit of $11 million, marking a significant turnaround from the $391 million loss in the same period the previous year. The company's Adjusted EBITDA also improved by $146 million year-over-year to $35 million. Additionally, Grab's Board of Directors has authorized an inaugural share repurchase program of up to $500 million. The full-year results for 2023 showed a 65% revenue increase to $2.359 billion, with a reduced annual loss of $485 million, a 72% improvement from 2022. The company's growth was driven by increased GMV across its Mobility and Deliveries segments, with a notable 18% year-over-year growth in On-Demand GMV. Despite...Show More