Grab Holdings reported a positive third quarter in 2024 with significant financial improvements, including a 17% year-over-year revenue increase to $716 million, or 20% on a constant currency basis. The company's On-Demand Gross Merchandise Value (GMV) rose by 15% year-over-year to $4.7 billion, with a notable 19% increase in On-Demand Monthly Transacting Users (MTUs). Grab achieved a profit of $15 million for the quarter, marking a substantial improvement from the previous year's loss. Adjusted EBITDA reached a record high of $90 million, a $62 million year-over-year increase. Operating cash flow was reported at $338 million for the quarter, with Adjusted Free Cash Flow hitting $76 million on a trailing 12-month basis. The company's Deliveries segment saw a 13% revenue growth to $380 million...Show More

Grab Holdings reported a positive third quarter in 2024 with significant financial improvements, including a 17% year-over-year revenue increase to $716 million, or 20% on a constant currency basis. The company's On-Demand Gross Merchandise Value (GMV) rose by 15% year-over-year to $4.7 billion, with a notable 19% increase in On-Demand Monthly Transacting Users (MTUs). Grab achieved a profit of $15 million for the quarter, marking a substantial improvement from the previous year's loss. Adjusted EBITDA reached a record high of $90 million, a $62 million year-over-year increase. Operating cash flow was reported at $338 million for the quarter, with Adjusted Free Cash Flow hitting $76 million on a trailing 12-month basis. The company's Deliveries segment saw a 13% revenue growth to $380 million, while the Mobility segment's revenue grew by 17% to $271 million. Financial Services also improved, with revenue increasing by 34% to $64 million. Grab's cash liquidity stood at $6.1 billion at the end of the quarter, bolstered by customer deposit growth in its banking business. The company also continued its share repurchase program, buying back 17.7 million shares for $58.2 million during the quarter. These results reflect Grab's ongoing efforts to optimize its incentive spend and drive cost efficiencies across the organization.