Grab Holdings Ltd. shares slumped after the ride-hailing company reported quarterly revenue growth that trailed estimates, highlighting intense competition in the Southeast Asian market.
The stock slid 10% in pre-market trading in New York after the company said revenue rose 17% to $664 million in the three months through June, missing the $676.9 million analysts predicted on average. Adjusted earnings before interest, taxes, depreciation and amortization were $64 million, roughly in line with estimates.
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