- Grab Holdings Limited (NASDAQ:GRAB) reported third-quarter FY22 revenue growth of 143% year-on-year to $382 million, beating the consensus of $340.8 million.
- Revenue for Deliveries segment rose 250% Y/Y to $171 million, driven by Jaya Grocer.
- Mobility revenue was $176 million, up 101% Y/Y as Southeast Asia opened up. Financial Services revenue rose 44% Y/Y to $20 million.
- Revenue for Enterprise and New Initiatives segment increased by 113% Y/Y to $15 million.
- GMV grew 26% Y/Y to reach $5.08 billion. Delivery GMV improved 5% Y/Y, Mobility GMV grew 105% Y/Y, Financial Services GMV grew 31% Y/Y, and Enterprise and New Initiatives GMV rose 18% Y/Y.
- MTUs grew by 30% Y/Y to 33.5 million. The average spend per user decreased by 3% Y/Y to $151.
- Adjusted EBITDA loss margin improved by 209 bps to (3.2)%. Adjusted EBITDA loss was $(161) million, an improvement of 24% Y/Y.
- EPS loss of $(0.08) beat the consensus loss of $(0.12).
- Outlook: Grab sees Q4 Deliveries GMV of $2.40 billion – $2.50 billion, Mobility GMV of $1.10 billion – $1.15 billion, and Financial Services Pre-InterCo TPV of $3.60 billion – $3.70 billion.
- Grab updated FY22 GMV growth outlook to 22% – 25% Y/Y from the previous 21% – 25% Y/Y. It raised revenue to $1.32 billion – $1.35 billion, up from the last $1.25 billion – $1.30 billion, below the consensus of $1.83 billion.
- Price Action: GRAB shares traded higher by 6.54% at $3.33 on the last check Wednesday.
‘FDA Approves Alzheimer’s Drug Leqembi, Paving Way For Broader Medicare Coverage’ – CNBC
The FDA has approved Eisai and Biogen’s Alzheimer’s treatment Leqembi.
Medicare has promised to begin covering Leqembi on the same day the FDA approves the antibody treatment.
Medicare coverage is a
