On August 15, 2024, Grab Holdings Limited, commonly known as Grab, reported its financial results for the second quarter of 2024, which ended on June 30, 2024. The company announced a 17% year-over-year revenue increase to $664 million, or 23% on a constant currency basis. On-Demand Gross Merchandise Value (GMV) grew by 13% year-over-year to $4.4 billion, or 18% on a constant currency basis. The operating loss improved significantly by $121 million to $(56) million, while Adjusted EBITDA saw an $81 million improvement, reaching $64 million. The company served a record high of 41 million Monthly Transacting Users (MTUs) and achieved its tenth consecutive quarter of Adjusted EBITDA growth. Grab's Chief Financial Officer, Peter Oey, highlighted the robust top-line growth across all segments and the achievement of positive Adjusted...Show More

On August 15, 2024, Grab Holdings Limited, commonly known as Grab, reported its financial results for the second quarter of 2024, which ended on June 30, 2024. The company announced a 17% year-over-year revenue increase to $664 million, or 23% on a constant currency basis. On-Demand Gross Merchandise Value (GMV) grew by 13% year-over-year to $4.4 billion, or 18% on a constant currency basis. The operating loss improved significantly by $121 million to $(56) million, while Adjusted EBITDA saw an $81 million improvement, reaching $64 million. The company served a record high of 41 million Monthly Transacting Users (MTUs) and achieved its tenth consecutive quarter of Adjusted EBITDA growth. Grab's Chief Financial Officer, Peter Oey, highlighted the robust top-line growth across all segments and the achievement of positive Adjusted Free Cash Flow for the second quarter. The company expects to maintain positive Adjusted Free Cash Flow for the full year 2024. The financial report also detailed segment performance, with Deliveries revenue growing 11% year-over-year and Mobility revenues increasing by 19%. Financial Services revenue saw a 54% year-over-year increase. The company's cash liquidity stood at $5.6 billion at the end of the quarter. Additionally, Grab repurchased 9.6 million shares for $34.6 million as part of its $500 million share repurchase program. The company's business outlook for FY 2024 remains unchanged, with revenue expected to be between $2.70 billion and $2.75 billion and Adjusted EBITDA between $250 million and $270 million.