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Top related persons:
Alex Hungate - 1 Peter Oey - 1 Oey - 1 GrabShare - 1 Sachin Mittal - 1 Grab's Hungate - 1 Kai Wang - 1 Jonathan Woo - 1
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Singapore Getty Images Singapore Malaysia Thailand Grab's U.S
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Grab Holdings - 1 Bloomberg - 1 Getty - 1 Getty Images - 1 CNBC - 1 DBS Bank - 1 DBS - 1 Trans - 1

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☆ Singapore's Grab says its ride-hailing unit is on track to hit pre-Covid levels by the end of the year
  + stars: | 2023-08-24 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +4 min
Photographer: Ore Huiying/Bloomberg via Getty Images Ore Huiying | Bloomberg | Getty ImagesSingapore-based Grab said on Wednesday that its ride-hailing unit is on track to hit pre-Covid levels by the end of this year. Grab, which also offers food delivery and mobile payments, said that its mobility GMV has recovered to 85% of pre-Covid levels. We remain on track to exit 2023 at pre-Covid GMV levels. "We remain on track to exit 2023 at pre-Covid GMV levels," Oey said during Grab's earnings call on Wednesday. Grab's Hungate said driver supply levels are currently at 84% of pre-Covid levels and that the firm will "continue to focus on improving driver supply."
Persons: Alex Hungate, Peter Oey, Oey, GrabShare, Sachin Mittal, Grab's Hungate, Kai Wang, Jonathan Woo, Woo Organizations: Grab Holdings, Bloomberg, Getty, Getty Images, CNBC, DBS Bank, DBS, Trans, Morningstar Asia, Revenue, Phillip Securities Research Locations: Singapore, Getty Images Singapore, Malaysia, Thailand, Grab's U.S
☆ Singapore ride-hailing firm Grab beats on revenue, pulls forward profitability timeline
  + stars: | 2023-02-23 | by ( Sheila Chiang | ) www.cnbc.com   time to read: +5 min
Revenue for the fourth quarter of 2022 grew 310% to $502 million, up from $122 million a year ago. We should be getting back to pre-Covid levels by fourth quarter this year. The company said that it is bringing forward its group adjusted EBITDA breakeven guidance to the fourth quarter of 2023, half a year earlier than its previous guidance. Deliveries reboundDeliveries revenue increased to $268 million in fourth quarter 2022, up from $1 million in the same period in 2021. Incentives dropped to 8.2% of gross merchandise volume in the fourth quarter from 9.4% in the previous quarter.
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