Southeast Asian Super App Grab Holdings To Report Q3 Results On Monday: Retail Fret Over Fundamentals, Insider Selling

Singapore-based superapp Grab Holdings Limited ($GRAB) will report its third-quarter financial results after the market closes on Monday.

Analysts, on average, expect the company to report a loss per share of $0.01, narrower than the year-ago loss of $0.02 per share. The consensus estimate calls for revenue of $695.98 million, more than the $615 million reported for the third quarter of 2023.

The earnings call has been scheduled for 7 pm ET.

The company reported a double miss for the June quarter.

Grab operates across deliveries, mobility, and the digital financial services sector, serving over 700 cities in eight Southeast Asian countries, namely Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. 

Founded in 2012, Grab’s services range from food and grocery ordering, package delivery, ride-hailing, and online payments as well as lending and insurance through, all through a single app. The company went public in Dec. 2021.

Grab shares have gained 25.52% for the year-to-date period. The stock closed Friday’s session down 0.94% to $4.23.

The retail crowd on Stocktwits platform held mixed sentiment toward the stock. The company hasn’t lived up to its promise, one user said.

Another user, though bullish, remained wary of competition and the risks posed by economic conditions in Southeast Asia.

Some expressed concerns about insider selling in the shares.

In late-October, Daiwa Securities initiated coverage of the stock with an "Outperform" rating. Bernstein raised the price target for Grab stock from $4.10 to $4.20, also in late-October, citing its confidence in the underlying trends in each of the company's end markets. 

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