Summary by Futu AI
On August 15, 2024, Grab Holdings Limited, commonly known as Grab, reported its financial results for the second quarter of 2024, which ended on June 30, 2024. The company announced a 17% year-over-year revenue increase to $664 million, or 23% on a constant currency basis. On-Demand Gross Merchandise Value (GMV) grew by 13% year-over-year to $4.4 billion, or 18% on a constant currency basis. The operating loss improved significantly by $121 million to $(56) million, while Adjusted EBITDA saw an $81 million improvement, reaching $64 million. The company served a record high of 41 million Monthly Transacting Users (MTUs) and achieved its tenth consecutive quarter of Adjusted EBITDA growth. Grab's Chief Financial Officer, Peter Oey, highlighted the robust top-line growth across all segments and the achievement of positive Adjusted...Show More