Grab Holdings Forecasts Annual Revenue Below Estimates Amid Tough Competition
Grab Holdings has forecast its annual revenue below analysts' estimates, as it struggles to maintain market share in a highly competitive food delivery and ride-hailing industry. The company's financial performance is under pressure due to intense competition from smaller rivals such as Foodpanda and GoTo. Grab's efforts to boost its subscriber base and drive higher usage on its app have so far yielded limited results.
- This development highlights the significant challenges faced by Grab in navigating a highly competitive market, where consumer sentiment remains weak amidst macroeconomic volatilities.
- How will the potential merger between Grab and GoTo impact the company's financial performance and competitiveness in the ride-hailing industry?