SINGAPORE -- Singapore-based Grab expects to turn its first quarterly profit sooner than projected, the company said Wednesday, following a series of cost-cutting measures and stronger demand in the core ride-hailing and food delivery services.
The Nasdaq composite-listed company now expects to break even on a group level in the July-September 2023 quarter on an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) basis, ahead of the previous final quarter target.
