(Finance) – Fourth quarter in profit for Grab. The ride-hailing giant recorded, in the three months, a Net income by $11 million, which compares to the loss of $391 million reported in the same period a year earlier.
The increase, the Southeast Asian road transport giant explained, was “primarily due to improvements in the Group’s adjusted EBITDA, changes in the fair value of investments and reductions in stock-based compensation expenses”.
The sales for the quarter was $653 million, beating the consensus forecast of $633.67 million.
The company also announced the launch of its share repurchase program of up to $500 million.
Guidance
For 2024, the company estimates revenue of between $2.7 billion and $2.75 billion, a lower range than the consensus that had forecast $2.82 billion.