In today’s briefing:
- Grab 4Q2021: Heavy Spending on Customer and Driver Incentives Hurts Earnings
Grab 4Q2021: Heavy Spending on Customer and Driver Incentives Hurts Earnings
- Grab (GRAB US) reported 4Q2021 results yesterday (before market). IFRS revenue decreased 44.29% YoY to $122m (vs consensus $219m) compared to $219m in the same quarter a year ago.
- Adjusted EBITDA (loss) for the quarter was -$305m (vs consensus -$206m) compared to -$102m a year ago as the company heavily spent on incentives to attract and retain drivers.
- Grab’s shares have lost almost 40.0% during intra-day trading as its growth story did not bode well with the investors.
Before it’s here, it’s on Smartkarma
