Grab reaps a profit of 66.42 million, and the stock price soars by 15%.

During the overnight U.S. stock trading session, Grab rose by 3.55% to close at $4.38; after announcing better-than-expected performance and strong performance guidance, the stock surged by 15% in after-hours trading, reaching a high of $5.04.

The company announced that all business revenue increased, driving a 17% year-on-year increase in third-quarter revenue to $0.716 billion (about 3.171 billion Malaysian ringgit), surpassing the market's forecast of $0.697 billion.

After adopting a series of cost reduction and efficiency enhancement measures to cope with intense competition, the company has now reaped the benefits, achieving profitability for the second consecutive time.

According to the company's announcement on the exchange, Grab Holdings' revenue this year could reach $2.78 billion (about 12.311 billion Malaysian ringgit), and the adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to be $0.308 billion to $0.313 billion (1.364 billion to -1.386 billion Malaysian ringgit).

Founder and CEO Chen Bingyao announced that the group's business gained strong growth momentum at the end of the year, and the company expects the total trade volume of on-demand services in the fourth quarter to continue to grow, thus raising revenue and EBITDA outlook for this fiscal year.

Although Grab's growth rate has significantly slowed down from triple-digit growth in the past few years, the company remains optimistic about the long-term prospects in Southeast Asia.

Currently, Grab has reached 42 million monthly users, indicating that there is still room for expansion in this region with a population of 0.65 billion.

Grab's CFO Peter Ooi mentioned at the performance briefing, "We see good conversions from EBITDA to free cash flow, which is another key indicator we are focusing on."

Bloomberg Intelligence analyst Nathan believes that Grab's performance in the fourth quarter, boosted by the China Golden Week holiday, could take it to the next level.

"During the China Golden Week holiday, Chinese tourists traveling to Southeast Asia may boost Grab's ride-hailing orders."

Analysts predict that Grab and Gojek will continue to dominate 70% of the ride-hailing market in Southeast Asia, while Grab, with its strong moat, can continue to hold half of the regional market.

In this context, although the competitor Gojek dominates the largest population market in Southeast Asia, Indonesia, the average revenue per user (ARPU) in the country is the lowest.

Meanwhile, in high ARPU Singapore and the second-highest ARPU Philippines, Grab maintains its leading position.

Analysts also point out that Grab's digital banks in Malaysia, Singapore, and Indonesia will be catalysts for next year's performance growth.