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The continuing run of $GRAB (-0.82%)

Grab Holdings reported solid results in the third quarter of 2024 with sales up 17 percent year-on-year to $716 million . GMV on-demand increased 15 percent to 4.7 billion $ , while monthly transactional users reached 42 million . The company achieved a profit of $15 million and a record adjusted EBITDA of 90 million $ , marking the 11th consecutive quarter of improvement. Operating cash flow was of $338 million , with adjusted free cash flow of 76 million $ on a year-over-year basis. Based on solid performance, Grab raised its full-year 2024 revenue guidance to $2.76-2.78 billion and adjusted EBITDA outlook to $308-313 million.


Positive

  • Achieved quarterly profit of $15 million.
  • Revenues grew 17% year-on-year to $716 million
  • Record adjusted EBITDA of $90 million, up 224% year over year
  • Users making monthly transactions increased 16% to 41.9 million
  • Cash on hand improved to $6.1 billion from $5.6 billion on a quarterly basis
  • Customer deposits in digital banking tripled year-on-year to $1.1 billion
  • Raised full-year 2024 forecast for revenue and adjusted EBITDA


Negative

  • Operating loss of $38 million in the third quarter
  • Total incentives increased to $462 million
  • GMV on-demand for MTU decreased by 3 percent year-on-year.
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