Grab narrows 1Q24 losses by 54% YoY, boosts FY24 earnings outlook

Loss for the period was US$115m.

Grab raised its earnings forecast for FY24 after narrowing its losses by 54% YoY to US$115m in 1Q24.

In its latest financial statement, Grab said it now expects to record adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) between US$250m-$270m, higher than its previous forecast of US$180m-US$200m.

Grab kept its revenue forecast at US$2.70b-US$2.75b.

The company said it cut its losses for the quarter by US$134m due to improvements in the group's adjusted EBITA and reductions in net interest expenses and share-based compensation expenses.

Loss for the quarter included a US$31m foreign exchange loss and US$94m in non-cash share-based compensation expenses.

Group adjusted EBITDA for 1Q24 was US$62m, an improvement of US$129m YoY, driven by On-Demand gross merchandise value (GMV) and revenue growths.

On-Demand GMV rose 18% YoY to US$4.2b, whilst revenue grew 24% YoY to US$653m.

Follow the link for more news on

Grab

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia