文章核心观点 - 作者拥有10年投资银行从业经验,专注于行业和公司研究,擅长解读各种新闻、事件、财报等,发现潜在的投资机会和风险 [1] - 作者正在将更多投资组合转向国际增长型股票,以获取高增长潜力 [1] - 作者在科技公司领域有丰富的经验,包括在华尔街报道科技公司,以及在硅谷担任种子轮创业公司的外部顾问 [1] 行业总结 - 科技行业正在经历重大变革,塑造着行业的未来发展方向 [1] - 作者在科技行业有广泛的接触和洞见,能够把握行业的最新动态和趋势 [1] 公司总结 - 作者持有Grab公司的股票,包括股票、期权或其他衍生工具 [2] - 作者撰写本文是基于自己的观点和分析,没有从任何公司获得报酬 [2] - Seeking Alpha网站的分析师并非专业投资顾问,他们的观点可能与Seeking Alpha网站整体不一致 [2]

gahsoon Recap In our latest article on Grab (NASDAQ:NASDAQ:GRAB), we wrote that Delivery Gross Merchandise Value ("GMV") growth would be under pressure because of the pull-forward demand in the food delivery service. However, the positive sides were Mobility returning to pre-COVID levels, lower incentives as players pursue profitability over growth, and rapidly growing Fintech and high-margin Advertising businesses. Our fair value estimate of Grab was $3.6 per share, derived from the sum-of-the-parts (" ...

fongfong2 Introduction Grab Holdings (NASDAQ:GRAB), the leading superapp and the so-called Uber of Southeast Asia, just reported Q2 earnings that missed Revenue estimates and EPS that was in line with expectations. The stock sold off by more than 7% following the news. After looking through the earnings report, I realized that while there were some disappointing numbers, there were certainly no red flags. I think investors overreacted to the news headline that growth is slowing down, but if we just dig ...

The ride-sharing company slipped on a disappointing earnings report.Shares of Grab Holdings (GRAB -5.93%) were heading lower today after Southeast Asia's leading ride-sharing business posted disappointing results in its second-quarter results.As of 1:20 p.m. ET, the stock was down 5.9% on the news. Grab comes up shortRevenue in the quarter rose 17%, or 23% in constant currency to $664 million, which missed estimates at $673.2 million. Gross merchandise volume (GMV), or the total value of all orders, grew mo ...

Indonesian super app Grab saw a record number of monthly users in its latest quarter.“We continued to harness the strength of the Grab ecosystem, and improved the usage frequency and reliability of our products and services,” Grab CEO and Co-founder Anthony Tan said in a news release Thursday (Aug. 15).“During the quarter, we achieved a new milestone, serving more users than ever at a record high of 41 million MTUs while delivering continued profitable growth at scale.”And although the company saw growth th ...

Key TakeawaysGrab Holdings posted lower-than-expected revenue and gave a soft full-year outlook as riders spent less on its service.The Asian ride-hailing firm reported the average amount of spending per user declined 6% from 2023.Both revenue and adjusted EBITDA guidance came up short of analysts' forecasts. Shares of Grab Holdings (GRAB) tumbled in intraday trading Thursday as the Asian ride-hailing firm missed revenue estimates and gave soft guidance as rider spending declined. The Singapore-based compan ...

财务数据和关键指标变化 - 集团收入同比增长17%,按固定汇率计算同比增长23%,达到创纪录的6.64亿美元 [47] - 移动出行业务收入同比增长19%,按固定汇率计算同比增长23% [47] - 外卖业务收入同比增长11%,按固定汇率计算同比增长17% [47] - 金融服务业务收入同比增长54%,按固定汇率计算同比增长61% [47] - 按需GMV同比增长13%,按固定汇率计算同比增长18%,达到44亿美元 [49] 各条业务线数据和关键指标变化 移动出行业务 - 移动出行GMV同比增长20%,按固定汇率计算同比增长25% [49] - 移动出行业务调整后EBITDA同比增长14%,达到1.29亿美元 [50] - 移动出行业务调整后EBITDA利润率为8.2%,较去年同期的8.6%有所下降 [50] 外卖业务 - 外卖GMV同比增长9%,按固定汇率计算同比增长14%,达到29亿美元 [49] - 外卖业务调整后EBITDA同比增长超过4倍,达到4200万美元 [50-51] - 外卖业务调整后EBITDA利润率同比提升110个基点至1.5% [51-52] 金融服务业务 - 金融服务业务调整后EBITDA亏损同比收窄44%,达到-2400万美元 [53] - 贷款发放总额同比增长43%,达到5亿美元,年化规模达20亿美元 [39-40] - 存款总额达7.3亿美元,较上季度增长52% [41-42] 各个市场数据和关键指标变化 - 菲律宾移动出行业务MTU同比增长92% [34] - 马来西亚GX Bank在不到1年时间内已有超过75万存款客户,其中包括超过50万GX Bank借记卡持有者 [14] - 印尼Superbank在推出不到2个月内就已超过100万存款客户 [14] 公司战略和发展方向及行业竞争 - 公司将采取三管齐下的策略:1)继续扩大生态系统规模;2)以人工智能驱动平台和盈利增长;3)持续提高成本纪律 [15-18] - 公司在可靠性和可负担性方面持续投入,推出了更多优惠和高价值的产品,以吸引新用户并提高现有用户的忠诚度 [10-11] - 公司在金融服务方面持续扩张,三家数字银行全部正式运营,存款和贷款业务保持高速增长 [12-14] - 公司认为行业竞争一直存在,但公司依靠规模优势、技术投入和成本纪律,能够保持领导地位并实现可持续盈利增长 [68-71] 管理层对经营环境和未来前景的评论 - 管理层对东南亚中期GDP增长前景持乐观态度,认为有利于公司长期发展 [15] - 管理层表示第三季度和第四季度业务有望实现环比增长,并有信心全年调整后EBITDA达到指引上限 [59-60] - 管理层承诺将继续保持成本纪律,预计全年区域总部成本将同比下降 [61] - 管理层有信心全年实现自由现金流转正,这是公司连续第10个季度调整后EBITDA环比改善的结果 [54-55] 其他重要信息 - 公司发布了最新的ESG报告,体现了公司在可持续发展方面的承诺 [19] - 公司在菲律宾等受台风影响的地区,迅速启动了应急援助计划,并与合作伙伴开展灾后重建捐赠活动 [20-22] - 公司回购计划持续推进,二季度又回购了960万股,累计回购4000万股 [58] 问答环节重要的提问和回答 问题1 **Pang Vitt 提问** 询问公司在宏观经济和行业竞争环境方面的看法,以及对全年指引的信心 [65-67] **Anthony Tan 回答** - 公司认为东南亚宏观经济前景向好,外资流入和国内需求强劲 - 公司在激烈的行业竞争中保持领导地位,依靠规模优势、技术投入和成本纪律实现可持续增长 - 公司有信心全年调整后EBITDA达到指引上限,并有望实现自由现金流转正 [68-72] 问题2 **Sachin Salgaonkar 提问** 询问外卖业务EBITDA利润率波动的原因,以及金融服务业务的发展前景 [91-92] **Peter Oey 回答** - 外卖业务EBITDA利润率受新产品投入和产品结构变化的影响,但公司仍致力于达到4%以上的长期目标 - 金融服务业务存贷款业务保持高速增长,公司承诺银行业务最迟于2026年底实现盈亏平衡 [94-98]

1 Q2 2024 Earnings Call August 2024 Disclaimer Non-IFRS Financial Measures This document and the investor webcast contain references to non-IFRS financial measures, including Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA margin, Total Segment Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Free Cash Flow. Grab uses Adjusted EBITDA, Segment Adjusted EBITDA, Segment Adjusted EBITDA margin, Total Segment Adjusted EBITDA, and Adjusted EBITDA margin for financial and operational decision ...

Grab Holdings Limited (GRAB) came out with a quarterly loss of $0.01 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post a loss of $0.01 per share when it actually produced a loss of $0.03, delivering a surprise of -200%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.Grab , which belongs to the Zacks Tec ...

As we inch closer to the first wave of interest rate cuts, it’s an opportune time to consider emerging markets tech stocks.Over the past year or so, these tech giants have undergone a major correction, with analysts highlighting promising opportunities in often-overlooked areas. For instance, Tom Lee of Funstrat Global Advisors paints a dynamic picture for small-cap stocks in August, primed for a 15% jump. These impressive growth numbers are driven by cooling inflation and the upcoming interest rate cuts.Si ...