Shares of Grab Holdings (NASDAQ: GRAB) were on an upswing in early morning trading on Wednesday as the superapp in Southeast Asia, which provides services including mobility, deliveries, and digital financial services delivered robust Q3 results.
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The company reported record revenues of $382 million in Q3, a jump of 143% year-over-year and beating Street estimates by $33.8 million. Losses narrowed in the third quarter to $0.08 per share versus a loss of $3.66 in the same period a year back. Analysts had forecasted a loss of $0.1 per share.
Considering these strong results, Grab also raised its FY22 revenues guidance to range between $1.32 billion and $1.35 billion from its prior outlook in the range of $1.25 billion to $1.30 billion.