GRAB Holdings forecast its annual revenue below analysts' estimates on Wednesday, as it grapples with intense competition in food delivery and ride-hailing businesses, sending its US-listed shares down more than 9 percent after the bell.
GRAB Holdings forecast its annual revenue below analysts' estimates on Wednesday, as it grapples with intense competition in food delivery and ride-hailing businesses, sending its US-listed shares down more than 9 percent after the bell.The company forecast its fiscal 2025 revenue to be between $3.33 billion and $3.40 billion, the midpoint of which is below the analysts' average estimate of $3.40 billion, according to data compiled by LSEG.
'Grab does not comment on media speculation or rumors,' Chief Financial Officer Peter Oey told Reuters, adding that the company has a very high bar for mergers and acquisitions.GoTo said that it is not engaged in any discussions about a possible merger transaction.
Lowers Annual Revenue Forecast
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