However, reinvestments to grow the total addressable market for its on-demand services led to net revenue and adjusted ebitda for both the mobility and deliveries segments missing expectations, write Ong and Tan in an Aug 15 note.
Nasdaq-listed Grab Holdings is reinvesting to drive growth, and muted earnings growth in 2QFY2024 ended June 30 has forced some analysts to lower their price targets for the delivery and mobility services app operator.
Grab’s 2QFY2024 gross merchandise value (GMV) of US$4.4 billion ($5.78 billion) was up 5% q-o-q and 13% y-o-y, while adjusted ebitda of US$64 million was up 3% q-o-q. These were in line with estimates by CGS International analysts Ong Khang Chuen and Kenneth Tan.
