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Grab Holdings | 6-K: Report of foreign private issuer (related to financial reporting)

SEC announcement ·  Feb 22 06:56
Summary by Moomoo AI
On February 22, 2024, Grab Holdings Limited, also known as Grab, reported its financial results for the fourth quarter and full year of 2023. The company announced a 30% year-over-year increase in Q4 revenue, reaching $653 million, and a positive profit of $11 million for the same period. Adjusted EBITDA for Q4 improved significantly to $35 million, a $146 million increase from the previous year. Additionally, Grab's Board of Directors authorized a share repurchase program of up to $500 million for its Class A ordinary shares and confirmed the full repayment of the outstanding Term Loan B. For the full year, Grab's revenue surged by 65% to $2.359 billion, with a reduced annual loss of $485 million, marking a 72% improvement from the previous year. The company also provided guidance for FY 2024, projecting revenues between $2.70 billion and $2.75 billion and Adjusted EBITDA of $180 million to $200 million. These results reflect Grab's focus on sustainable and profitable growth, with significant improvements in its financial services and mobility segments.
On February 22, 2024, Grab Holdings Limited, also known as Grab, reported its financial results for the fourth quarter and full year of 2023. The company announced a 30% year-over-year increase in Q4 revenue, reaching $653 million, and a positive profit of $11 million for the same period. Adjusted EBITDA for Q4 improved significantly to $35 million, a $146 million increase from the previous year. Additionally, Grab's Board of Directors authorized a share repurchase program of up to $500 million for its Class A ordinary shares and confirmed the full repayment of the outstanding Term Loan B. For the full year, Grab's revenue surged by 65% to $2.359 billion, with a reduced annual loss of $485 million, marking a 72% improvement from the previous year. The company also provided guidance for FY 2024, projecting revenues between $2.70 billion and $2.75 billion and Adjusted EBITDA of $180 million to $200 million. These results reflect Grab's focus on sustainable and profitable growth, with significant improvements in its financial services and mobility segments.
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