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).