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Uber Rival Grab Misses Q2 Topline, Average User Spend Dips
Grab Holdings Limited (NASDAQ:GRAB) reported fiscal second-quarter 2024 revenue growth of 17% year-on-year (23% year-on-year on a constant currency basis) to $664.00 million, missing the analyst consensus estimate of $669.25 million.
EPS of $(0.01) was in line with the analyst consensus loss estimate. The stock price plunged after the results.
Also Read: Grab Follows Uber’s Lead, Acquires Chope To Expand Into Restaurant Bookings
Revenue for the Deliveries segment rose 11% year-on-year (17% year-on-year on a CC basis) to $356 million, driven by growing demand from its Food Deliveries business ...