Grab Holdings Ltd said on Thursday that an early Ramadan weighed on sales at its delivery business, taking the shine off an otherwise positive quarter and sending the Southeast Asian company's shares down 2.5 per cent before the bell.Total platform sales at Grab's delivery business - its biggest - fell 9
Grab Holdings Ltd said on Thursday that an early Ramadan weighed on sales at its delivery business, taking the shine off an otherwise positive quarter and sending the Southeast Asian company's shares down 2.5 per cent before the bell.
But the company's finance chief, Peter Oey, struck a positive tone for the unit in an interview, saying that he expected"the second half of the year to be stronger for the delivery business." The lower incentives helped the delivery business triple its revenue to $275 million, which beat Visible Alpha consensus estimates. Total revenue more than doubled to $525 million, also above expectations of $504.3 million.
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