Why Grab Shares Are Soaring Today

Grab Holdings Limited GRAB reported first-quarter FY22 revenue growth of 6% year-on-year to $228 million.
Mobility segment acceleration and strong core food and groceries growth drove the growth as it expanded its merchant selection and contributions from Jaya Grocer.
Revenue for Deliveries rose 70% Y/Y to $91 million, driven by continued growth in food and groceries deliveries and contributions following the acquisition of Jaya Grocer.
Mobility revenue was $112 million, down 22% Y/Y. Financial Services revenue rose 52% Y/Y to $11 million.
Revenue for Enterprise and new initiatives increased by 34% Y/Y to $14 million.
GMV grew 32% Y/Y to reach $4.8 billion. Delivery GMV improved 50% Y/Y, Mobility GMV grew 3% Y/Y, Financial Services GMV grew 23% Y/Y, and Enterprise and New Initiatives GMV rose 98% Y/Y.
MTUs grew by 10% Y/Y to 30.9 million as lockdowns continued to ease. The average spend per user increased by 19% Y/Y to $155.
Adjusted EBITDA loss margin stood at (6)% of GMV compared to (3.1)% a year ago. Adjusted EBITDA was $(287) million.
Outlook: Grab sees Q2 Deliveries GMV of $2.55 billion - $2.65 billion, Mobility GMV of $0.95 billion - $1.0 billion, Financial Services Pre-InterCo TPV of $3.5 billion - $3.6 billion.
Grab sees FY22 GMV growth of 30% - 35% Y/Y and revenue of $1.2 billion - $1.3 billion below the consensus of $2.68 billion.
Price Action: GRAB shares traded higher by 23.1% at $3.12 on the last check Thursday.
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