Grab Q4 Financial Report Analysis
【GRAB Q4 Financial Performance Overview】
Revenue: Revenue in the fourth quarter reached 0.653 billion US dollars, a 30% year-on-year increase, exceeding analysts' general expectation of 0.633 billion US dollars, demonstrating the company's strong momentum in revenue growth.
Net Income: Q4 net income was 11 million US dollars, a significant improvement compared to the net loss of 0.391 billion US dollars in the same period last year. This improvement was mainly attributed to the increase in EBITDA, changes in investment fair value, and lower stock-based incentive expenses.
Earnings Per Share (EPS): Diluted earnings per share were $0.01, exceeding analysts' expectations of -$0.03, compared to -$0.1 in the same period last year.
Adjusted EBITDA: $35 million, slightly below the expected $38.9 million.
Free Cash Flow: Fourth-quarter adjusted free cash flow was $1 million.
[Business Performance]
GMV: Total GMV increased by 9% year-on-year, attributed to the growth in mobile and delivery business.
On-Demand GMV: Increased by 18% year-on-year and 3% quarter-on-quarter, demonstrating a healthy business growth trend.
Monthly Transaction Users (MTU): Increased by 12% year-on-year, indicating stable growth in the user base.
Market and Global Strategy Dynamics
Grab is focusing on becoming a more financially mature company by implementing layoffs and controlling expenses to achieve profitability.
After years of rapid expansion, Grab is now placing a strong emphasis on increasing profit levels.
Grab and GoTo have restarted discussions about merging their core businesses, which may help reduce company expenses and effectively reach consumers across the entire region.
【Outlook】
Grab expects revenue to grow by 14% to 17%, reaching $2.7 billion to $2.75 billion, slightly below analysts' average expectation of $2.8 billion. This indicates the company's cautious outlook on future business growth and reflects the slowdown in growth of its core online business.
Despite achieving profitability for the second consecutive quarter, lower revenue expectations compared to analysts' forecasts have put some pressure on the company's share buyback plan.
Overall, Grab's financial reports demonstrate positive progress in its business revenue and profitability. However, lower growth expectations for the future and the slowdown in growth of its core online business indicate that Grab still faces challenges on the path to achieving long-term stable growth.
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生财有道致力于全方位成长投资。邱天雄老师曾是上市公司主要媒体的CEO领导，拥有超过20年的投资经验。主要投资美国，中国和大马。
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102487453 : if up so much why share price drops today?
Macdonell J 102487453 : Price dropped was mainly due to weak guidance for FY2024: $2.70 billion - $2.75 billion (14% - 17%) YoY vs $2.82B consensus.
生财有道 OP 102487453 : In relation to profit expectations, Wall Street focuses on profit expectations
103460389 : when to buy grab