GRAB HOLDINGS Releases Q2 FY2023 Earnings Results on August 23, 2023
August 31, 2023
🌥️Earnings Overview
On August 23 2023, GRAB HOLDINGS ($NASDAQ:GRAB) announced its earnings results for the second quarter of FY2023, ending June 30 2023. The company reported total revenue of USD 567.0 million, representing a year-over-year increase of 76.6%. Net income was recorded at USD -135.0 million, demonstrating a remarkable improvement from the net loss of -547.0 million in the same quarter of the prior year.
Price History
On Wednesday, August 23, 2023 GRAB HOLDINGS released its fiscal year 2023 second quarter earnings report. The results showed much positive news, and investors responded by pushing the stock price up to a new high. When the markets opened that morning, GRAB HOLDINGS opened up at $3.5 per share and it steadily rose throughout the day, closing at a high of $3.7 per share. This was a 10.8% increase over its previous closing price of $3.3 and represented a new all-time high for GRAB HOLDINGS stock.
The strong results were attributed to GRAB HOLDINGS’ continued focus on innovation and technology as well as their aggressive expansion into new markets. Investors were further encouraged by the company’s plans to launch several new products and services in the coming months. With these promising developments, GRAB HOLDINGS looks poised to continue its streak of strong performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Grab Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 1.98k | -1.09k | -48.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Grab Holdings. More…
| Operations | Investing | Financing |
| -300 | 1.43k | -1.62k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Grab Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.29k | 1.9k | 1.63 |
Key Ratios Snapshot
Some of the financial key ratios for Grab Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -48.8% |
| FCF Margin | ROE | ROA |
| -19.5% | -9.4% | -7.3% |
Analysis
At GoodWhale, we analyze GRAB HOLDINGS‘s financials to help you make smart decisions when it comes to investing. Based on our Risk Rating, GRAB HOLDINGS is a medium risk investment with regard to both financial and business aspects. Our analysis has detected 2 risk warnings in the company’s balance sheet and cashflow statement, so if you want to learn more, make sure to register with us. With GoodWhale, you can trust that you’re getting the best research and data available for your investment decisions. More…
Peers
The competition between Grab Holdings Inc and its competitors is fierce. Each company is vying for market share and customer loyalty. Grab Holdings Inc has a strong presence in Southeast Asia and is expanding into other markets. VEF AB is a Swedish company that specializes in mobile payments. Raiz Invest Ltd is an Australian company that offers a micro-investing platform. The Mint Corp is a Canadian company that offers a mobile app that helps users manage their finances.
– VEF AB ($OTCPK:VEFFF)
Nyfosa is a Swedish real estate company that was founded in 2006. The company focuses on the development and management of commercial properties, primarily in the Stockholm region. As of 2022, Nyfosa has a market cap of 262.88M and a ROE of -6.38%.
– Raiz Invest Ltd ($ASX:RZI)
Raiz Invest Ltd is a financial services company that offers investment and savings products. The company has a market cap of 46.26M as of 2022 and a return on equity of -13.48%. The company’s products include investment accounts, savings accounts, and term deposits. Raiz Invest Ltd is headquartered in Sydney, Australia.
– The Mint Corp ($TSXV:MIT)
The Mint Corp is a publicly traded company with a market capitalization of 9.44 million as of 2022. The company has a return on equity of -145.45%. The Mint Corp is engaged in the business of providing turnkey financial technology solutions to the banking and payments industry.
Summary
Investors seem to be pleased with Grab Holdings‘ second quarter FY2023 results, as the company reported a total revenue of USD 567.0 million, a year-over-year growth of 76.6%. Net income also improved to -135.0 million compared to -547.0 million in the previous year. The stock price responded positively to these results, rising on the same day. Overall, Grab Holdings has shown a strong rebound in the second quarter of 2023 and investors should consider adding the stock to their portfolios, as it presents an attractive long-term growth opportunity.
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