Grab Q3 net profit rises 5% YoY to $18m

The group reported 57 million monthly users despite high fuel prices.

Grab Holdings Limited reported a net profit of $23m (US$18m) in the third quarter (Q3), up 5% year on year (YoY) from $21.8m (US$17m).

Gross revenue rose 27% YoY to $1.4b (US$1.1b), driven by growth across all core segments, the company said.

Revenue is expected to reach between $5.31b (US$4.15b) and $5.4b (US$4.2b), representing growth of 23% to 25%, for the full year of 2026.

Grab CEO Anthony Tan said the group recorded 57 million monthly transacting users on its platform in Q3, despite elevated fuel prices and macroeconomic headwinds.

Operating profit increased by $103.7m (US$81m) YoY to $138.2m (US$108m), partly offset by higher revenue costs, a $73.0m (US$57m) net fair value loss on financial assets and liabilities, and a $15.4m ($12m) impairment loss on an equity-accounted investee.

The group also recorded lower finance income and higher income tax expenses YoY.

Deliveries revenue grew 21% YoY to $718.0m (US$561m), driven by higher food and grocery gross merchandise value (GMV) and improved advertising monetisation, whilst deliveries GMV increased 21% YoY to $5.8m (US$4.5m).

Mobility revenue rose 10% YoY to $446.7m (US$349m), whilst GMV increased 14% to $2.9m (US$2.3m). Mobility transactions grew 21% YoY, outpacing GMV growth.

Financial services revenue surged 124% YoY to $257.3m ($US201m), primarily driven by higher lending contributions from GrabFin and its digital banks, the consolidation of Superbank in June, and the acquisition of Stash beginning this quarter.

$1 = US$0.78

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