Grab Holdings said all three of its core businesses were profitable in the third quarter of 2026 for the first time, marking a milestone for the Southeast Asian ride-hailing and delivery company. Adjusted EBITDA rose 73% from a year earlier to a record $237 million, and the company raised its full-year outlook for the second time this year.

The new adjusted EBITDA forecast is $790 million to $800 million, up from the previous range of $720 million to $740 million. Grab said the revision reflects stronger operating performance, while noting that it expects to spend more in the fourth quarter to support driver supply and new products.

Monthly transacting users reached a record 57 million, a 20% year-over-year increase, while on-demand gross merchandise value grew 22% on a constant-currency basis. Grab said adjusted EBITDA margin improved by 560 basis points year over year. Mobility’s EBITDA margin was 8.9%, and deliveries’ margin rose to 2.7% from 2.1% a year earlier.

Financial services recorded its first profitable quarter, with segment adjusted EBITDA of $12 million, up $40 million from a year earlier. Grab said the result, alongside profitability in mobility and deliveries, reflects improved operating leverage, monetization and cost control across its platform.

Chief Executive Anthony Tan said the company’s ecosystem benefits from having more users and services per user, with more revenue reaching the bottom line. He also described AI as part of the company’s efforts to simplify user experiences and help partners increase their earnings. Grab said AI interaction costs fell 42% quarter on quarter as interactions increased 60%.

The company pointed to elevated fuel prices, inflation and Indonesia’s new two-wheeler commission framework as challenges during the quarter. Management said it continues to support drivers affected by higher operating costs. For Q4, Grab plans to invest in driver supply and products including GrabMall, the GXS credit card and OVO Pinjaman.

Grab reiterated its 2028 targets of more than 30% compound annual revenue growth from 2026 to 2028 and adjusted EBITDA of $1.7 billion. These expectations include the proposed Atome acquisition, which remains subject to completion. The company also said it plans to complete the remaining $500 million of its $900 million share buyback program within 12 months.

Grab shares closed at $2.86, up 5.54%, and gained a further 3.85% after hours to $2.97.

Sources: Investing.com News.