Singapore's Grab beats quarterly revenue estimates

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Singapore's Grab beat Wall Street expectations for first-quarter revenue on Tuesday (May 5), benefiting from resilient demand for its ride-hailing and food-delivery services after rolling out promotional offers and bundled features to attract customers.

The company reported revenue of US$955 million in the first quarter, compared with analysts' estimates of US$921.1 million, according to data compiled by LSEG.

Grab also left its 2026 revenue forecast unchanged at US$4.04 billion to US$4.10 billion.

Shares of the company were flat after the results.

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Grab has been trying to boost spending on its platform by incorporating artificial-intelligence features into its superapp and bundling its core ride-hailing, delivery and financial services.

With oil and gas prices pushed up by the war in the Middle East, the company has also leaned on promoting more affordable offerings, including its “saver” option, to woo customers grappling with higher costs of living.

Profit for the first quarter was US$120 million, compared with US$10 million a year earlier, boosted by a US$118 million net gain on fair value of financial assets and liabilities.

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