Grab Holdings reports Q3 EPS (2c), consensus (2c)

Reports Q3 revenue $615M, consensus $589.91M. “We achieved our first positive Group Adjusted EBITDA this quarter as we reached another all-time high in Group MTUs and saw increased earnings for our driver-partners,” said Anthony Tan, CEO. “While this is an important milestone for Grab, it is just one of many steps in our journey as we continue to drive growth in a sustainable and profitable manner. Our progress forward remains anchored on improving our marketplace efficiency, building better and more affordable services for our users, and empowering the millions of everyday entrepreneurs on our platform to thrive.” “Our Q3 results reflect our consistency and discipline in execution. Revenues grew 61% year-over-year while Deliveries Segment Adjusted EBITDA margin expanded to 3.4% amid continued Deliveries GMV growth,” said CFO Peter Oey. “On the back of the strong results, we are revising up our outlook on full year 2023 Revenues and Group Adjusted EBITDA. As we look beyond 2023, we will continue to sharpen our focus on generating Adjusted EBITDA and Free Cash Flows, while maintaining cost discipline to drive further operating leverage.”