Grab Holdings' quarterly revenue beats expectations as spending remains strong

Zaheer Kachwala

Tue, Apr 29, 2025, 3:59 PM 2 min read

By Zaheer Kachwala

(Reuters) -Grab Holdings bushed Wall Street expectations for first-quarter gross connected Tuesday, arsenic the institution benefited from beardown spending connected its ride-hailing and nutrient transportation level contempt economical uncertainty.

The institution reported gross of $773 cardinal for the archetypal quarter, compared with estimates of $762.6 million, according to information compiled by LSEG.

Grab's determination to marque its level a "superapp" by incorporating fiscal services has strengthened its ascendant presumption successful Southeast Asia's online services industry, adjacent arsenic economical uncertainty weighs connected user sentiment.

U.S. President Donald Trump's shifting commercialized argumentation has triggered worries of higher costs, a spike successful ostentation and the anticipation of a recession ahead, sending shockwaves done the firm world.

Singapore's monetary authorization said connected Monday that the tariffs would make a "demand shock" to the country's economy, with broader antagonistic effects.

Grab's fiscal chief, Peter Oey, told Reuters that the institution is "not seeing a slowdown" successful its concern contempt the tariff negotiations.

He added that the company's market transportation segment, GrabMart grew faster than different transportation businesses during the period of Ramadan — a play wherever nutrient transportation firms typically acquisition a displacement successful demand.

With contention successful the online services manufacture heating up, companies are looking to consolidate their marketplace stock and grow operations.

Grab is reportedly seeking to unafraid a indebtedness of up to $2 cardinal to enactment the acquisition of smaller Indonesian rival GoTo.

Oey declined to remark connected rumors but emphasized the company's committedness to the Indonesian market, which helium describes arsenic "underpenetrated."

Revenue for the company's deliveries conception roseate 18% to $415 cardinal successful the 4th ended March 31, compared with analysts' expectations of $396 million.

Grab reported mobility gross of $282 million, compared with estimates of $287 million. Revenue for its fiscal services conception jumped 36%.

(Reporting by Zaheer Kachwala successful Bengaluru; Editing by Mohammed Safi Shamsi and Alan Barona)