Grab Slides After Sales Miss Estimates on Tough Competition.

Grab Holdings Ltd., the largest ride-hailing and delivery company in Southeast Asia, reported lower-than-expected quarterly revenue growth, leading to a 5.5% drop in its stock. The company's revenue rose 17% to $664 million in the three months through June, missing analysts' predictions. Grab is facing intense competition from Indonesia's GoTo Group, which is keeping prices low and margins thin for both companies. Despite its stock decline, Grab's losses have narrowed, and it aims to achieve profitability in the future. [Extracted from the article]