2023-05-18 07:02:56 ET
- Grab press release ( NASDAQ: GRAB ): Q1 GAAP EPS of -$0.06 beats by $0.01 .
- Revenue of $525M (+130.3% Y/Y) beats by $20M .
- Revenue grew 130% YoY to $525 million in the first quarter of 2023, or 139% on a constant currency basis, attributed to growth across all our segments, a reduction in incentives and a change in business model for certain delivery offerings in one of our markets.
- Total GMV grew 3% YoY, or 7% YoY on a constant currency basis, primarily due to the continued growth in Mobility, which offset softer Deliveries demand as a result of Chinese New Year and Ramadan during the first quarter.
- FY23 Outlook:
- Revenue of $2.2B-$2.3B
- Adj EBITDA of $(195)M-$(235)M
For further details see:
Grab GAAP EPS of -$0.06 beats by $0.01, revenue of $525M beats by $20M