Grab boosts earnings forecast on robust ride, delivery demand
Strong Southeast Asian commuter demand helps absorb higher fuel prices stemming from the Middle East conflict.
Grab Holdings has raised its annual earnings and sales forecasts due to robust demand from Southeast Asian commuters, despite the impact of higher fuel prices caused by the Middle East conflict. The ride-hailing and delivery company now predicts adjusted earnings between US$720 million and US$740 million for the year, with sales reaching up to US$4.15 billion.
This forecast reflects an increase from the company's May forecast of US$720 million in earnings and US$4.1 billion in sales. Grab is attempting to mitigate the impact of higher fuel prices by offering incentives to riders and consumers, but this could put pressure on their already thin profit margins. The company is also strengthening its market position by integrating Foodpanda's Taiwan operations and releasing new products like AI-powered concierge tools and fare-splitting features.
Brief written by urgent.news from Free Malaysia Today's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
