Nasdaq-listed Grab’s Q4 profit falls to US$27 million, but beats analyst estimates

NASDAQ-LISTED Grab on Thursday (Feb 20) posted a net profit of US$27 million for the fourth quarter ended December, down from US$35 million in the previous corresponding period.

The earnings beat estimates of a US$10.3 million profit in a poll of eight analysts by Bloomberg.

Revenue for the three months was US$764 million, up 17 per cent on the year from US$653 million, driven by growth across all segments, said Grab. It met an estimate of US$757.8 million in a 17-analyst Bloomberg poll.

Earnings per share was US$0.01, unchanged from the previous corresponding period.

The group’s adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) was US$97 million for the quarter, up from US$35 million in the year-ago period.