businessSource: CNBCPublished
Grab Boosts Forecasts Amid Strong Demand in Southeast Asia
business · CNBCGrab, a leading ride-hailing and delivery firm in Southeast Asia, has raised its full-year revenue outlook due to resilient consumer demand despite macroeconomic headwinds. The company's shares rose 4.86% in extended trading. Grab's CFO credits AI for improving efficiency and margins.
At a glance
- Grab raised its full-year revenue forecast to $4.10 billion-$4.15 billion.
- The company's revenue grew 22% year-on-year to $997 million in the second quarter.
- Grab credits AI for improving efficiency and margins, helping it ship products three times faster.