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Singapore's Grab cuts losses in Q1 as tourism demand returns

Superapp operator cites 72% revenue boost for ride-hailing with 'ample room to recover'

Grab's earnings improvement owes partly to a recovery in demand for rides from tourists visiting Southeast Asia.   © Reuters

SINGAPORE -- Singapore-based tech group Grab is trimming losses as the company captures stronger demand from tourists visiting its Southeast Asian markets and continues with aggressive cost cutting.

The Nasdaq-listed company on Thursday reported a $250 million net loss for the January-March quarter, narrowing 43% from a $435 million loss for the year-ago period.

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