Grab Announces First Quarterly Profit and Share Buyback Plan

Despite a strong quarter, Grab forecasts weaker than expected 2024 revenue, raising concerns about future growth.

Grab Holdings reported its first quarterly profit and unveiled a share repurchase program.
The company forecasts 2024 revenue between $2.70 billion and $2.75 billion, below analysts' expectations of $2.80 billion.
Shares of Grab fell in early trading following the announcement of the weak revenue forecast.
The company's mobility and delivery services saw revenue increases of 26% and 20% respectively in the fourth quarter.
Grab's efforts to cut workforce and reduce costs over the past two years have contributed to its profitability.