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Grab’s Q2 loss narrows to US$53 million, but misses analyst estimates

Revenue for the three months is US$664 million, rising 17 per cent on-year from US$567 million, driven by growth across all segments

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Benjamin Cher
Megan Cheah

Benjamin Cher &

Megan Cheah

Published Thu, Aug 15, 2024 · 08:18 PM — Updated Fri, Aug 16, 2024 · 12:03 AM
    • On a half-year basis, the company’s loss for the period narrows to US$157 million from US$378 million year on year, while revenue gains 21 per cent to US$1.3 billion from US$1.1 billion.
    • On a half-year basis, the company’s loss for the period narrows to US$157 million from US$378 million year on year, while revenue gains 21 per cent to US$1.3 billion from US$1.1 billion. PHOTO: BT FILE

    NASDAQ-LISTED Grab on Thursday (Aug 15) posted a loss of US$53 million for the second quarter ended Jun 30, trimmed from a US$135 million loss in the corresponding year-ago period.

    The improved loss, however, missed estimates of a US$43.4 million loss in a poll of eight analysts by Bloomberg.

    Revenue for the three months was US$664 million, rising 17 per cent on-year from US$567 million, driven by growth across all segments, said Grab. It failed to meet an estimate of US$676.9 million in a 15-analyst Bloomberg poll.

    GrabFinancial results

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