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Investing.com -- Grab Holdings Ltd (NASDAQ:GRAB) stock fell 4.6% after the Southeast Asian ride-hailing and delivery giant reported its second quarter results and provided a full-year outlook that fell short of some analyst expectations.
The company reported earnings per share of $0.01, in line with analyst estimates, while revenue came in at $819 million, slightly above the consensus estimate of $812.79 million and up 23% YoY.
Despite posting its first quarterly profit of $20 million, improving from a $68 million loss in the same period last year, investors appeared concerned about the company’s full-year revenue guidance. Grab forecasts fiscal year 2025 revenue between $3.33 billion and $3.40 billion, compared to analyst consensus of $3.39 billion.
The company’s core business segments showed strong performance during the quarter. On-demand GMV (gross merchandise value) grew 21% YoY to $5.4 billion, while Deliveries revenue increased 23% YoY to $439 million. Mobility revenue rose 19% YoY to $295 million, and Financial Services revenue jumped 41% YoY to $84 million.
Grab’s Adjusted EBITDA improved by $45 million YoY to a record high of $109 million. The company also reported operating cash flow of $728 million and adjusted free cash flow of $229 million on a trailing 12-month basis.
The company’s loan portfolio expanded 78% YoY to $708 million, while customer deposits in its digital banking operations more than doubled to $1.54 billion from $730 million a year earlier.
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