Grab Holdings Drops 11% Despite Upbeat Results

(RTTNews) - Shares of Grab Holdings Limited (GRAB) are falling more than 11% Thursday morning despite reporting improved second-quarter results.

Net loss in the second quarter was $547 million or $0.15 per share, narrower than $768 million or $2.89 per share loss a year ago.

Revenue for the quarter increased to $321 million from $179 million in the same quarter a year ago.

For the full year, the company expects revenue to be between $1.25 billion and$1.3 billion, at the higher end of previously announced guidance range of $1.2 billion to $1.3 billion.

GRAB, currently at $3.16, has traded in the range of $2.26-$17.15 in the past 52 weeks.