GoTo to Buy Back $200 Million of Stock After Earnings Milestone [BNN Bloomberg (Canada)]
Grab Holdings Limited (GRAB)
Company Research
Source: BNN Bloomberg
The Jakarta-based company, which competes with Singapore's Grab Holdings Ltd. in ride-hailing and food delivery, reported 77 billion rupiah ($5 million) in adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter. This compares with an adjusted loss of 3.1 trillion rupiah a year earlier. The stock buyback is the first ever for GoTo, which is trying to reassure investors of its future earnings prospects even as competition from Grab and a slew of smaller regional rivals intensifies. To improve its profitability, GoTo in December agreed to relinquish control of its e-commerce arm Tokopedia to ByteDance Ltd.'s TikTok, after the social media company said it would invest $1.5 billion in a joint venture that it'll be in charge of. The deal resulted in a massive goodwill writedown of about 79 trillion rupiah, bringing GoTo's net loss for the fourth quarter to about 81 trillion rupiah. For this year, GoTo forecast breakeven on adjusted Ebitda basis.
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GRAB
News
- Grab Holdings Limited (GRAB) Flat As Market Gains: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Investors Heavily Search Grab Holdings Limited (GRAB): Here is What You Need to Know [Yahoo! Finance]Yahoo! Finance
- Is There An Opportunity With Grab Holdings Limited's (NASDAQ:GRAB) 26% Undervaluation? [Yahoo! Finance]Yahoo! Finance
- Grab to Announce First Quarter 2024 Results on May 15, 2024GlobeNewswire
- Singapore Car Startup Seeks Value Over $1.5 Billion Ahead of IPO [Yahoo! Finance]Yahoo! Finance
GRAB
Earnings
- 2/22/24 - Beat
GRAB
Sec Filings
- 4/8/24 - Form 144
- 4/1/24 - Form 6-K
- 4/1/24 - Form 6-K
- GRAB's page on the SEC website