Grab Holdings Limited Class A Ordinary Shares Q3 2026 Earnings Recap

Grab’s shares rose 15.1% after earnings, reflecting a second increase to full-year guidance and record adjusted EBITDA. The key beat was profitability broadening to all three core segments, though management expects Q4 EBITDA to be roughly stable sequentially as it invests in driver capacity and the busy festive season.

Key Takeaways

• Adjusted EBITDA reached a record $237 million, up 73% year-on-year; all three core segments were profitable for the first time, including Financial Services.
• Grab raised full-year adjusted EBITDA guidance to $790 million–$800 million from $720 million–$740 million, and also raised revenue guidance; it did not give the revised revenue range in the excerpt.
• On-demand GMV grew 22% on a constant-currency basis, while monthly transacting users reached a record 57 million.
• Mobility and Deliveries margins expanded quarter-on-quarter to 8.9% and 2.7%, respectively. Management said elevated fuel prices continued to pressure driver costs.
• Management expects Q4 EBITDA to be roughly stable versus Q3, citing planned driver-capacity support and targeted investment during a high-volume festive and travel period.