10 Stocks Mirror Wall Street Downturn

3. Grab Holdings Limited (NASDAQ:GRAB)

Ride-hailing giant Grab Holdings Limited (NASDAQ:GRAB) saw its share prices drop by 10.39 percent on Thursday to finish at $4.785 apiece as weak earnings performance in 2024 and outlook guidance weighed down investor sentiment.

In its latest earnings release, GRAB said net income was flat at $11 million in the fourth quarter of the year versus the same period last year as higher foreign exchange losses and lower contribution from net changes in fair value of financial assets totaling $39 million offset the improvement in operating profit.

Revenues grew by 17 percent to $764 million from $653 million year-on-year, driven by growth across all segments.

For full year 2024, net loss narrowed by 67 percent to $158 million from $485 million as revenues rose 19 percent to $2.797 billion from $2.359 billion.

For 2025, GRAB said it expects full-year revenues to settle between $3.33 billion to $3.4 billion, or a growth ranging from 19 percent to 22 percent year-on-year.