Singapore's Grab Reaches Adjusted Profit, Decade After Founding.

Grab Holdings Ltd., a Southeast Asian ride-hailing and food delivery company, has reported its first-ever profit on an adjusted basis. The company's adjusted earnings before interest, tax, depreciation, and amortization for the quarter through September were $29 million, surpassing analysts' expectations. Despite facing intense competition and mounting losses, Grab has focused on profitability and cost control, including job cuts. However, revenue growth has slowed as customers in the region reduce spending due to inflation and interest rates. Grab's profitability is seen as a significant milestone in its efforts to convince investors of its earnings potential. [Extracted from the article]