Earnings

Grab pares losses by 24%, deliveries unit breaks even ahead of target

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Singapore technology ride-sharing and food delivery service company Grab logo is displayed on a smartphone screen.

Budrul Chukrut | Sopa Images | Lightrocket | Getty Images

Singapore-based ride-hailing and food delivery giant Grab narrowed losses and broke even in its deliveries segment for the first time since 2012, during the third quarter.

The company posted an adjusted earnings before interest, taxes, depreciation and amortization loss of $161 million, a 24% improvement from the adjusted EBITDA loss of $212 million in the same period a year ago. EBITDA is a measure of profitability that shows earnings before interest, taxes, depreciation and amortization.

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Source cnbc.com

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