Southeast Asian super app Grab released a strong set of 1Q2022 numbers with overall gross merchandise value (GMV) increasing by 32% year-on-year (Y0Y) to $4.8 billion on the back of a 50% growth in deliveries GMV to $2.56 billion. Revenues increased by 6% YoY as the company continues to invest in the recovery with higher driver and consumer incentives.
The company saw its net loss improve by 35% YoY to $435 million but this was mainly due to the absence of interest costs related to its convertible redeemable preference shares that were converted on the SPAC listing.
