Uber Rival Grab Misses Q2 Topline, Average User Spend Dips
Portfolio Pulse from Anusuya Lahiri
Grab Holdings Limited (NASDAQ:GRAB) reported Q2 2024 revenue growth of 17% year-on-year to $664 million, missing the analyst consensus estimate of $669.25 million. EPS of $(0.01) was in line with expectations. Despite growth in various segments, the average spend per user decreased by 6% year-on-year. The stock price dropped by 8.31% premarket following the results.
August 15, 2024 | 12:55 pm
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Grab Holdings Limited reported Q2 2024 revenue of $664 million, missing the analyst consensus estimate of $669.25 million. EPS of $(0.01) was in line with expectations. The stock price dropped by 8.31% premarket following the results.
The revenue miss and the decline in average user spend are likely to negatively impact investor sentiment, leading to a short-term decline in the stock price. The premarket drop of 8.31% reflects this sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100