GoTo Posts Rare Profit After Sale to TikTok, Big Cost Cuts [Yahoo! Finance Canada]
Grab Holdings Limited (GRAB)
Company Research
Source: Yahoo! Finance Canada
(Bloomberg) -- Indonesia's GoTo Group reported a quarterly profit on an adjusted basis, a step in its yearslong effort to cut costs and prove to investors it can make money. Most Read from Bloomberg The company, which battles stiff competition from Singapore's Grab Holdings Ltd. in ride-hailing and food delivery, reported a 137 billion rupiah ($8.7 million) adjusted earnings before interest, taxes, depreciation and amortization for the three months through September. That compares with a pro-forma loss of 559 billion rupiah a year earlier. GoTo reiterated Wednesday it expects to break even on an adjusted Ebitda basis for the full year. Third-quarter net revenue, which strips out incentives to driver and merchant partners and promotions to users, more than doubled on a pro-forma basis to 3.9 trillion rupiah. The company has cut jobs and exited businesses as user growth cools and competition from Grab and smaller regional rivals weighs on margins. To improve its profitability,
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GRAB
News
- GoTo Posts Rare Profit After Sale to TikTok, Big Cost Cuts [Yahoo! Finance]Yahoo! Finance
- Grab Holdings Limited (GRAB) Stock Moves -0.48%: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Grab Holdings Limited (NASDAQ: GRAB) is now covered by analysts at Daiwa Capital Markets. They set an "outperform" rating and a $4.60 price target on the stock.MarketBeat
- Brokers Suggest Investing in Grab (GRAB): Read This Before Placing a Bet [Yahoo! Finance]Yahoo! Finance
- UPDATE - Grab to Announce Third Quarter 2024 Results on November 11, 2024GlobeNewswire
GRAB
Earnings
- 8/15/24 - In-Line
GRAB
Sec Filings
- 10/21/24 - Form 144
- 10/15/24 - Form 144
- 10/9/24 - Form 144
- GRAB's page on the SEC website