Uber Rival Grab Posts First Profitable EBITDA In Q3, Speeds Past Revenue Estimates
Portfolio Pulse from Anusuya Lahiri
Grab Holdings Limited (NASDAQ:GRAB) reported a 61% YoY revenue growth in Q3 FY23, beating estimates with $615 million. The company also posted its first profitable EBITDA quarter. Revenue for the Deliveries segment rose 79% YoY, while Mobility revenue was up 31% YoY. Financial Services revenue rose 156% YoY. The company raised its FY23 revenue outlook to $2.31 billion - $2.33 billion.
November 09, 2023 | 2:49 pm
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Grab Holdings reported strong Q3 FY23 results, beating revenue estimates and posting its first profitable EBITDA quarter. The company also raised its FY23 revenue outlook.
Grab's strong Q3 results, which beat revenue estimates and marked the company's first profitable EBITDA quarter, are likely to have a positive impact on its stock. The company's raised FY23 revenue outlook further strengthens this positive outlook.
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