Grab Holdings reported their Q2 2024 performance, with a 13% increase in Gross Merchandise Volume (GMV) on their on-demand business platform, reaching $4.434 billion. The platform’s user base grew to 40.9 million accounts, generating $664 million in revenue, a 17% increase from the previous year. The EBITDA stood at $64 million, but a net loss of $68 million was recorded.
Deliveries business saw a 9% GMV increase to $2.85 billion, marking a company record in transactions and user growth. The Saver subscription, reducing delivery costs, accounted for 28% of all Deliveries transactions. Ride-hailing business experienced a 20% GMV growth, totaling $1.584 billion.
Anthony Tan, Grab’s CEO, highlighted the company’s significant milestones in the past quarter, with a user base reaching 41 million accounts and promising profitability trends.
TLDR: Grab Holdings saw a 13% increase in GMV in Q2 2024, with positive growth in both on-demand and delivery services. CEO Anthony Tan remains optimistic about the company’s direction. (Source: Grab)
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