Grab Holdings Limited (GRAB) shares are trading higher in premarket trading on Tuesday after the company reported its first-ever quarter of profitability across all three core segments in the third quarter of 2026.

Adjusted EBITDA rose 73% year over year to a record $237 million, marking 19 consecutive quarters of growth. That is a long streak, and it is finally showing up in the bottom line across the whole business, not just one piece of it.

Deliveries gross merchandise value (GMV) grew 21% year over year in constant currency, with its margin improving to 2.7% from 2.1%. On-demand GMV increased 22% in constant currency, while monthly transacting users grew 20% to 57 million.

Mobility and Deliveries margins reached 8.9% and 2.7%, respectively, despite higher fuel costs and inflation. So the company is not just growing, it is getting more efficient while doing it.

For context, Uber Inc. (UBER) sold its Southeast Asia operations to Grab in 2018. Grab has been the region's dominant ride-hailing and delivery player ever since, and now it is finally making money across the board.

2026 Guidance Raised, 2028 Targets Maintained

Grab raised its 2026 group revenue guidance to $4.15 billion–$4.20 billion from $4.10 billion–$4.15 billion previously, compared with the analyst consensus of $4.185 billion.

The company also increased its 2026 Adjusted EBITDA guidance to $790 million–$800 million from $720 million–$740 million, implying 58%–60% year-over-year growth. That is a big bump, and it tells you management is feeling confident about the rest of the year.

Grab maintained its 2028 targets of a revenue compound annual growth rate exceeding 30% and $1.7 billion in Adjusted EBITDA, including the proposed acquisition of Atome, which remains subject to completion.

Financial Services is expected to contribute $500 million in Adjusted EBITDA by 2028, with a loan portfolio exceeding $6 billion. That is a serious fintech ambition for a company that started as a ride-hailing app.

The company plans to increase driver capacity and invest in newer offerings, including Grab Mall, the GXS credit card and OVO Pinjang, ahead of the fourth-quarter festive season.

It reiterated its long-term Deliveries margin target of more than 4% and allocated approximately $160 million within its 2028 EBITDA outlook for product investments, including Grab Mall and Grab Mart.

AI And Grab Mall Drive Platform Growth

Grab launched Grab Mall during the quarter to help fast-moving consumer goods (FMCG) brands sell and fulfill orders through its platform, with regional expansion planned. AI is improving search, recommendations and personalized offers.

Cross-platform shoppers generate 43% of Food GMV and spend around 10% more per basket, while Grocery GMV is growing 1.8 times faster than Food GMV. Translation: once people start using Grab for more than just rides, they spend more, and the grocery business is growing faster than the food delivery business.

Grab's AI assistants now serve nearly 500,000 drivers and help merchants increase earnings by approximately 20%. Merchant earnings rose 15% year over year, while active advertisers grew 39%.

The company also partnered with OpenAI to train 30,000 drivers and merchants over two years and joined Meta Muse in Singapore to enable AI-driven grocery orders.

Autonomous Vehicle Partnerships

Grab is expanding its autonomous vehicle partnerships with WeRide and Momenta. Its Singapore service is already carrying passengers, with 40 additional autonomous vehicles planned. The company also enables cross-platform ride bookings through its Uber partnership.

Grab has completed more than 100,000 kilometers of autonomous vehicle trials in Singapore and plans to expand its fleet fivefold to 50 vehicles, with commercial services expected in the coming months.

Under its asset-light model, technology providers and fleet owners will supply the autonomous vehicle infrastructure, while Grab manages demand aggregation and fleet orchestration. In other words, Grab does not want to own the robots, it wants to own the customers.

The company expects human-driven and autonomous rides to coexist for about 10 years, with hybrid dispatch allowing customers to choose between the two. Adoption could be slower in Southeast Asia because of lower driver costs and tropical weather challenges.

Taiwan Blocks foodpanda Deal

Separately, Grab said Taiwan's Fair Trade Commission rejected its proposed acquisition of Delivery Hero's foodpanda Taiwan business in October.

Following the rejection, Grab expects to receive $550 million in additional cash and will incur a $60 million break fee in the fourth quarter. The company said the development will not affect its full-year guidance.

GRAB Price Action: Grab shares were up 10.14% at $3.15 during premarket trading on Tuesday, according to market data.