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Grab lifts full-year outlook on AI and affordability push
The company also authorized a $750 million buyback after reporting revenue growth to $997 million and net income rising to $252 million in the quarter.
Grab Holdings lifted its full-year revenue and EBITDA outlook, crediting AI investments and an affordability push for driving growth even as fuel prices rose across Southeast Asia, according to Yahoo Finance.
The company said AI helped it ship products more than 30% faster and reduced nearly 40,000 hours of sales inefficiencies, while reporting revenue of $997 million and net income of $252 million. Revenue rose 22% year over year, and gross merchandise value climbed 21% to $6.5 billion, with rides up 28% year over year.
Grab also raised guidance to $4.10 billion to $4.15 billion for full-year revenue and $720 million to $740 million for EBITDA. In addition, it announced a new $750 million share repurchase.
Looking ahead, the report noted that Grab’s stock has remained under pressure despite the update, and pointed to ongoing competitive and regulatory factors, including Indonesia’s cut to the maximum commission and delays tied to its planned acquisition of Foodpanda’s Taiwan business, now pushed to October. Sea Limited had not yet reported its second-quarter results at the time of the comparison.