The Southeast Asian ride-hailing and delivery company also said it expects to close its Taiwan acquisition in the second half of the year.
Grab lifted its full-year revenue and EBITDA guidance after posting record second-quarter results, with demand across Southeast Asia holding up despite macroeconomic headwinds. The Nasdaq-listed company said rides rose 28% year on year in the quarter and that AI tools have helped it ship products faster, improving margins and cost efficiency. Revenue rose 22% to $997 million, while operating profit climbed 186% to $19 million for the quarter ended in June. Grab now expects full-year revenue of $4.10 billion to $4.15 billion, up from a prior forecast of $4.04 billion to $4.10 billion, and EBITDA of $720 million to $740 million, from $700 million to $720 million previously. CFO Peter Oey said demand remained strong in July and that financial services are at an inflection point. Grab also said it is working with regulators on its planned acquisition of Delivery Hero's foodpanda business in Taiwan and hopes to close the deal in the second half of the year.