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Grab reports $1bn loss in Q4 on heavy incentive spending

Singapore tech group's first results since U.S. listing come as shares slump

A GrabFood rider in Kuala Lumpur. Grab aims to start a digital banking business in Singapore and continue pursuing opportunities in on-demand delivery.   © Reuters

SINGAPORE -- Singaporean startup Grab marked a net loss of over $1 billion for the fourth quarter of 2021 on heavy investment toward growth, showing that profitability remains a key challenge for the superapp operator as it faces strong competition.

In its first quarterly results released since listing on Nasdaq in December, Grab on Thursday reported a net loss of $1.055 billion for the three months through December, widening from a $576 million loss a year earlier. The annual loss reached about $3.4 billion, compared with a $2.6 billion loss in 2020.

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