Grab Holdings Limited announced robust third-quarter 2024 financial results, with revenue reaching $716 million, marking a 17% year-over-year increase, or 20% on a constant currency basis. This performance exceeded analysts' expectations and was driven by strong demand across its food delivery and ride-hailing businesses.
The company achieved its eleventh consecutive quarter of Adjusted EBITDA improvement, reaching $90 million, and reported a net profit of $15 million for the quarter, marking its second positive profit quarter. Grab's trailing 12-month Adjusted Free Cash Flow expanded to $76 million, demonstrating a significant shift towards sustainable profitability.
Grab also raised its full-year 2024 revenue forecast to a range of $2.76 billion to $2.78 billion, up from its previous projection of $2.70 billion to $2.75 billion. Monthly Transacting Users (MTUs) grew 16% year-over-year to 42 million, while On-Demand Gross Merchandise Value (GMV) increased 15% year-over-year, or 18% on a constant currency basis, to $4.7 billion.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.