Grab Reports Strong Q3 2024 Financial Performance
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Grab Reports Strong Q3 2024 Financial Performance

Grab ( (GRAB) ) has released its Q3 earnings. Here is a breakdown of the information Grab presented to its investors.

Grab Holdings Limited is a leading superapp operating across the deliveries, mobility, and digital financial services sectors in Southeast Asia, facilitating diverse everyday services such as food orders, ride-hailing, and financial transactions through a single platform. In the third quarter of 2024, Grab reported robust financial performance with a 17% year-over-year increase in revenue to $716 million and a positive profit of $15 million. The company’s On-Demand Gross Merchandise Value (GMV) grew 15% year-over-year to $4.7 billion, driven by a 19% rise in Monthly Transacting Users and increased transaction volumes across its services.

The company’s Adjusted EBITDA reached an all-time high of $90 million, marking significant improvement from the previous year. Grab also reported operating cash flow of $338 million and adjusted free cash flow of $76 million, driven by growth in customer deposits in its digital banking segment. Mobility and Deliveries segments saw substantial growth, with Mobility GMV increasing by 20% year-over-year and Deliveries GMV growing by 12%. Additionally, Grab’s financial services experienced a notable 34% increase in revenue.

Grab’s strategic investments are yielding results, with incentives optimized to support product launches and enhance profitability. The company completed share repurchases under its buyback program and maintained a strong cash position with $6.1 billion in liquidity. The financial services segment also showed promising growth, with the loan portfolio expanding by 81% year-over-year.

Looking ahead, Grab remains optimistic about its growth prospects in Southeast Asia, raising its full-year 2024 revenue and Adjusted EBITDA outlook. The company is focused on seizing user demand trends, enhancing income opportunities for partners, and driving technological innovations to improve marketplace efficiency.

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