When Grab Holdings Inc was first listed on Nasdaq—an American stock market based in New York—after a merger with special purpose acquisition company (SPAC) Altimeter Growth Corp in December 2021, it was expected to value at US$40 billion.
In the first quarterly result released by Nasdaq on Thursday (3 Mar), Grab reported a net loss of $1.055 billion for the three months from December, widening from a $576 million loss a year earlier.
This places Grab’s annual loss at approximately $3.4 billion, a grim increase compared to the $2.6 billion loss in 2020.
While the figures look like Grab is faring poorly, the co-founders of Grab, Anthony Tan and Tan Hooi Ling remain optimistic for the coming year, believing that the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) will turnaround in 2023.
However, what are the reasons that led to Grab’s financial losses and share prices dropping?
Well, there are a few contributing factors, to be honest.
A lot more at https://shrtcô.de/4rWg3p
In the first quarterly result released by Nasdaq on Thursday (3 Mar), Grab reported a net loss of $1.055 billion for the three months from December, widening from a $576 million loss a year earlier.
This places Grab’s annual loss at approximately $3.4 billion, a grim increase compared to the $2.6 billion loss in 2020.
While the figures look like Grab is faring poorly, the co-founders of Grab, Anthony Tan and Tan Hooi Ling remain optimistic for the coming year, believing that the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) will turnaround in 2023.
However, what are the reasons that led to Grab’s financial losses and share prices dropping?
Well, there are a few contributing factors, to be honest.
A lot more at https://shrtcô.de/4rWg3p
