Home ยป Quarterly Performance Report: Total Revenue Sees Impressive 24% Growth

Quarterly Performance Report: Total Revenue Sees Impressive 24% Growth

Grab Holdings has reported its first quarter performance in 2024, with a total Gross Merchandise Value (GMV) of 4,242 million dollars, an increase of 18% from the same quarter in the previous year. This is divided into 1,547 million dollars for passenger vehicles (+27%) and 2,695 million dollars for deliveries (+13%). The company’s revenue is reported at 653 million dollars, a 24% increase, with an EBITDA profit of 153 million dollars and a net loss of 115 million dollars.

The number of unique users on the Grab platform has reached 34.4 million accounts, a 19% increase in this quarter. Grab also disclosed the figures for incentive payouts, totaling 415.6 million dollars, split between partners at 176.7 million dollars and customers at 238.8 million dollars.

CEO of Grab, Anthony Tan, emphasized the company’s focus on increasing the user base on the platform and enhancing service frequency, reflected in the rising average partner revenue and record-breaking GMV.

TLDR: Grab Holdings reports a strong performance in Q1 2024 with notable increases in GMV, revenue, and user accounts, alongside significant incentive payouts. CEO Anthony Tan highlights the company’s commitment to expanding the user base and service utilization.

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