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Technology

Singapore's Grab breaks even on deliveries ahead of schedule

Superapp narrows Q3 loss to $342m with reduced incentive payouts

Grab's delivery business logged adjusted EBITDA of $9 million for the July-September quarter.   © Reuters

SINGAPORE -- Singapore-based superapp Grab said Wednesday that its delivery segment has broken even, including the popular food delivery service, as the Southeast Asian tech giant rushes to narrow years of losses in the face of stronger investor scrutiny.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the delivery business totaled $9 million for the July-September quarter, turning positive from a $22 million loss in the year-ago period.

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