In a dynamic operating environment, the path to profitability requires focus and discipline. It also frequently requires cutting costs and finding new efficiencies by using technology. Singaporean super app Grab reported earnings results Wednesday (May 15), announcing a record adjusted core profit and raising its annual forecast. On a call with analysts, the company cited its "relentless" efforts to cut costs, as well as the impact of artificial intelligence in optimizing its operations. "We continue to exe ...

Exhibit 99.1 Grab Reports First Quarter 2024 Results SINGAPORE, May 16, 2024 - Grab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the first quarter ended March 31, 2024. "Our focus on product-led growth is bearing fruit, with On-Demand GMV scaling to new highs in spite of the seasonal impact we usually see in the first quarter of the year. Our push on affordability and reliability is pulling more people onto our platform and driving up order frequency. We also continue to s ...

SINGAPORE, May 16, 2024 (GLOBE NEWSWIRE) -- Grab Holdings Limited (NASDAQ: GRAB) today announced unaudited financial results for the first quarter ended March 31, 2024. "Our focus on product-led growth is bearing fruit, with On-Demand GMV scaling to new highs in spite of the seasonal impact we usually see in the first quarter of the year. Our push on affordability and reliability is pulling more people onto our platform and driving up order frequency. We also continue to see our partner earnings trending up ...

Core Insights - Grab Holdings Limited reported strong financial results for Q1 2024, highlighting a focus on product-led growth and profitability improvements [2][7][10] Financial Performance - Revenue increased by 24% year-over-year to $653 million, or 29% on a constant currency basis [7][10] - On-Demand GMV grew by 18% year-over-year to $4.2 billion, with a 21% increase on a constant currency basis [7][10] - Adjusted EBITDA reached an all-time high of $62 million, improving by $129 million year-over-year [7][10] - Operating loss improved to $(75) million, a $129 million improvement from the previous year [7][10] Operational Highlights - Monthly Transacting Users (MTUs) increased to 38.5 million, up 16% year-over-year [6] - On-Demand MTUs rose by 19% year-over-year to 34.4 million [6] - Total incentives for the quarter were $416 million, with On-Demand incentives as a percentage of GMV reducing to 9.7% from 10.7% year-over-year [7][10] Segment Performance - Deliveries segment revenue grew by 19% year-over-year to $350 million, with GMV increasing by 13% to $2.7 billion [11][13] - Mobility segment revenue rose by 27% year-over-year to $247 million, with GMV increasing by 27% to $1.5 billion [16] - Financial Services revenue grew by 53% year-over-year to $55 million, driven by lending contributions [17][22] Strategic Changes - Grab has made changes to its segment reporting structure, now categorizing its operations into Deliveries, Mobility, Financial Services, and Others [3][4][37] - The company has discontinued reporting GMV for its Financial Services segment to focus on ecosystem transactions [4][38] Business Outlook - For FY 2024, Grab expects revenue between $2.70 billion and $2.75 billion, maintaining a growth rate of 14% to 17% year-over-year [10]

Following the Fed's recent upbeat remarks, the bulls are charging out, parading their rosy stock market forecasts. Hence, given the positive cues from the Fed, it might be an excellent time to wager on the best penny stocks to buy. The bull case for a more aggressive approach to investing in the stock market is based on several factors. First, Fed chair Jerome Powell stated that the institution's next move will unlikely be a rate hike. Second, we're coming off an incredibly encouraging first quarter (Q1) of ...

Grab Holdings Limited (GRAB) ended the recent trading session at $3.50, demonstrating no swing from the preceding day's closing price. Elsewhere, the Dow gained 0.44%, while the tech-heavy Nasdaq lost 0.18%.The the stock of company has risen by 6.38% in the past month, leading the Business Services sector's loss of 1.96% and the S&P 500's loss of 0.22%.The upcoming earnings release of Grab Holdings Limited will be of great interest to investors. The company's earnings report is expected on May 15, 2024. The ...

Grab Holdings Limited (GRAB) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this company have returned +7% over the past month versus the Zacks S&P 500 composite's -0.4% change. The Zacks Technology Services industry, to which Grab belongs, has gained 0.2% over this period. Now the key question is: Where could the stock be headed in the near term?Although media report ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Grab Holdings Limited (GRAB) .Grab currently has an average brokerage recommendation (ABR) of 1 ...

Grab Holdings Limited (GRAB) closed the latest trading day at $3.50, indicating no change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.02% for the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 2.03%.Shares of the company witnessed a gain of 11.47% over the previous month, beating the performance of the Business Services sector with its loss of 5.04% and the S&P 500's loss of 3.15%.Market participants will be closely followin ...

Grab Holdings Limited (GRAB) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this company have returned +11.5%, compared to the Zacks S&P 500 composite's -3.2% change. During this period, the Zacks Technology Services industry, which Grab falls in, has lost 8.5%. The key question now is: What could be the stock's future direction?While media releas ...