Grab swings back to black with US$15m profit in Q3 2024

In Q3 2023, it posted a US$99m loss.

Grab reported a profit of US$15m in Q3 2024, reversing its US$99m loss in Q3 2023.

Improved group-adjusted earnings, increased net finance income, and lower share-based compensation expenses contributed to the company’s rebound.

In Q324, Grab reported a group adjusted EBITDA of US$90m, up $62m from Q323.

The company attributed its improved EBITDA to On-Demand GMV and revenue growth.

Grab's revenue rose 17% YoY to US$716m in Q324, with growth seen across all business segments.

Meanwhile, On-Demand GMW saw a 15% YoY increase, driven by 19% growth in On-Demand MTUs and a 22% increase in transactions.

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