Grab (GRAB) has released an update.
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Grab has reported a robust second quarter in 2024 with revenue surging to $664 million, a 17% increase year-over-year, and a significant improvement in operating losses, reduced to $56 million from the previous year’s $176 million. The company’s On-Demand GMV rose by 13%, reaching $4.4 billion, fueled by a 19% growth in monthly active users for their On-Demand services. Furthermore, Grab achieved a positive Adjusted EBITDA of $64 million, a remarkable turnaround from the negative $17 million reported in the same period last year.
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