MONEY MASTER

Grab Holdings posted a  $20 million net profit  for the second quarter, turning around from a  $68 million loss  a year ago, as strong consumer demand and disciplined cost management boosted results. Financial Highlights: Net Profit:  $20M (vs. $68M loss last year), beating analysts’ $17.53M estimate. Revenue:  $819M, up  23% , driven by on-demand and financial services. Adjusted EBITDA:  $109M, up  69%  year-over-year. Key Drivers: Higher revenue, improved margins, and lower share-based compensation expenses. GrabUnlimited subscribers  continued to outspend and order more frequently than non-subscribers, especially in food delivery. CEO Commentary: Co-founder and CEO Anthony Tan said continued investment in affordability and reliability has “deepened user engagement and retention” despite a volatile macro environment. Outlook: Grab maintained its annual adjusted EBITDA guidance at  $460M–$480M . Expects  a stronger second...

Grab Holdings Ltd shares jumped up to 15% in US trading after the Southeast Asian ride-hailing and delivery giant raised its full-year earnings forecast to $308-313 million Ebitda, surpassing its earlier projection of $270 million. Grab’s third-quarter Ebitda reached $90 million , outpacing analyst expectations of $66.2 million, with the company reporting its second net profit ever. The stock climbed to $5.04 in after-hours trading, recovering from declines since its 2021 public debut. Revenue for 2024 is now forecast to reach up to $2.78 billion , slightly above previous estimates. Grab’s 42 million monthly users still represent significant growth potential in Southeast Asia’s population of 650 million. With a focus on balancing profitability and growth amid regional competition, Grab remains optimistic about the region’s long-term prospects.

  Grab Malaysia has clarified that it was neither informed nor consulted about the recent open letter addressed to Prime Minister Datuk Seri Anwar Ibrahim by the Asia Internet Coalition (AIC), which expressed concerns over a proposed regulatory framework for social media and instant messaging platforms in Malaysia. In a statement issued on Monday, Grab emphasized that the proposed regulations do not affect its operations, stating, "Therefore we had no part in it. We did not and are not commenting on the matter." This response came after a Reuters report mentioned Grab as a member of the AIC, linking it to the coalition’s stance. Grab further distanced itself from AIC's position, reaffirming its commitment to working with the Malaysian government and contributing to the country’s development. The open letter from AIC, dated Friday, criticized the proposed licensing regime by the Malaysian Communications and Multimedia Commission (MCMC), which requires social media platform...