BRIEF-Grab Holdings Reports Q2 Results

Reuters2021-09-14

Sept 13 (Reuters) - GRAB HOLDINGS:

* GRAB HOLDINGS SAYS Q2 ADJUSTED NET SALES REACHED $550 MILLION, UP 92%; Q2 REVENUE GREW TO $180 MILLION, UP 132%

* GRAB HOLDINGS SAYS Q2 SPEND PER USER INCREASED BY 27%

* GRAB HOLDINGS SAYS Q2 GROSS MERCHANDISE VALUE WAS $3.9 BILLION, UP 62%

* GRAB HOLDINGS SAYS Q2 NET LOSS WAS $815 MILLION VERSUS $718 MILLION

* GRAB HOLDINGS SAYS EXPECTS DEMAND FOR MOBILITY SERVICES TO IMPROVE IN COMING QTRS AS VACCINATION RATES INCREASE ACROSS THE REGION

* GRAB HOLDINGS SAYS AS OF JUNE 30, 2021, HAD CASH LIQUIDITY OF $5.3 BILLION, AN INCREASE OF $1.6 BILLION FROM $3.7 BILLION AS OF DEC 31, 2020

* GRAB HOLDINGS SAYS REMAINS CAUTIOUS OF RENEWED UNCERTAINTY OF MOVEMENT RESTRICTIONS IN SOUTHEAST ASIA RELATED TO COVID-19

* GRAB HOLDINGS SAYS CURRENTLY EXPECTS FY 2021 GROUP-LEVEL GROSS MERCHANDISE VALUES OF $15.0 BILLION - $15.5 BILLION

* GRAB HOLDINGS - SEES FY 2021 GROUP-LEVEL ADJUSTED NET SALES OF $2.1 BILLION - $2.2 BILLION; SEES FY 2021 GROUP-LEVEL ADJUSTED EBITDA LOSS OF $0.9 BILLION - $0.7 BILLION

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