Grab’s Q3 net loss widens to $988m, revenue down 9%

Singapore-headquartered ride-hailing and deliveries company Grab on Thursday reported a net loss of $988 million in the third quarter of this year, up 59% from the same period last year.

The company said its Q3 losses widened on account of non-cash expenses, with $748 million of the third-quarter loss due to non-cash items, primarily consisting of interest accrued on Grab’s convertible redeemable preference shares, stock-based compensation, and fair value changes on investments.

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