Grab Holdings beats quarterly revenue estimates

[SINGAPORE] Grab Holdings beat Wall Street expectations for second-quarter revenue on Wednesday, as consumers boosted spending on its ride-hailing and food delivery platform despite global economic uncertainty.

The Singapore-based company reported revenue of US$819 million, above analysts’ expectations of us$811.3 million, according to LSEG data.

Grab‘s push to turn its platform into a superapp, integrating ride-hailing, food and grocery delivery, and other digital services, has drawn a growing number of users willing to pay for its subscription plans.

While ongoing US trade negotiations have cast a cloud over global economic stability, leading to concerns about tariffs and elevated costs in South-east Asia, the Singaporean economy has remained resilient.

It grew 4.3 per cent in the second quarter, avoiding a technical recession.

Grab posted a profit of US$20 million for the quarter, compared with a US$68 million loss in the same period a year earlier. REUTERS