In today’s briefing:
- Grab 1Q2022: On a Path to Recovery but Still Has a Long Way To Go
Grab 1Q2022: On a Path to Recovery but Still Has a Long Way To Go
- Grab (GRAB US) reported 1Q2022 results. IFRS revenue increased 6% YoY to $228m (vs consensus $142m) and negative adjusted EBITDA of $287m ( consensus $291m) compared to $111m in 1Q2021.
- The company’s deliveries biz saw a strong recovery in revenues post disappointing performance in 4Q2021 and the acquisition of Jaya Grocers partially contributed to this growth.
- Grab’s Mobilities biz has not yet recovered to pre-pandemic levels due to Omicron-related restrictions in the first two months of the quarter, but set to benefit from recovery in travel.
Before it’s here, it’s on Smartkarma
