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.