Grab Holdings beats quarterly revenue estimates
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
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