Uber’s first Gaap profit suggests Grab has long road to profitability
What can Uber, the trailblazing ride-hailing platform that achieved generally accepted accounting principles (Gaap) operating profit for the first time last week, tell us about the road ahead for Grab?
If Uber’s path serves as a guide, Grab may achieve a quarterly operating profit sometime only in 2025 – or later.
Gaap is the accounting standard used in the United States. Gaap profit is more difficult to achieve than the preferred metric of many technology companies: positive earnings before interest, taxes, depreciation and amortisation (Ebitda).
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes