Grab Holdings reports Q1 profit, EBITDA up to $62M from $67M loss, raises 2021 adjusted EBITDA forecast to $250M to $270M.

Grab Holdings reported its third consecutive quarterly profit, with EBITDA at $62M, up from a $67M loss a year earlier. The Singapore-based firm is aiming for sustained profitability after years of spending to grow market share. The company's revenue rose 24% to $653M in Q1, driven by recent cost-reduction measures and increased demand for ride-share services. Grab raised its full-year adjusted EBITDA forecast to between $250M and $270M, up from $180M to $200M.

May 15, 2024
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