What Uber’s First Profit Tells Us About Grab’s Path to Profitability
Simon Huang , Chief Analyst, Tech In Asia
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Earlier this month, Uber reported an operating profit during a fiscal quarter for the first time in its history. The company reported its second-quarter earnings for 2023, which included a net income of $394 million for the quarter, up $1.0 billion year-over-year and $588 million versus the preceding quarter. The company attributed its net gain to a 22% increase in trips on the platform, combined with “cost discipline”.
On the back of Uber's first operating profit, today on Enterprise Biz Bytes we look closer to home and see what this latest earnings report from Uber tells us about Grab's path to profitability.
We also explore the fundamentals of Grab's business model, how it compares to global peers, and what its asset-heavy acquisitions like Jaya Grocer and Singapore's Trans-Cab say about its long term strategy.
Photo Credits: Shutterstock
Produced by: Roshan Kanesan
Presented by: Roshan Kanesan
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