Grab Sees Rider Spending Down, Sending Stock Tumbling
Grab (GRAB) Investopedia·2024-08-16 00:31
Key Takeaways Grab 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 com ...