KUALA LUMPUR: Grab Holdings Ltd has raised its full-year 2026 revenue and earnings forecasts, supported by steady growth in its ride-hailing business, stronger demand for deliveries and improving performance in its financial services division.
The Southeast Asian ride-hailing and delivery group now expects 2026 revenue of between US$4.15 billion and US$4.20 billion, compared with its previous projection of US$4.10 billion to US$4.15 billion.
Its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) forecast has also been raised to between US$790 million and US$800 million, from the earlier range of US$720 million to US$740 million.
Grab's third-quarter revenue increased 27% year-on-year to US$1.11 billion, exceeding analysts' average estimate of US$1.07 billion, according to LSEG data.
Chief financial officer Peter Oey told Reuters that demand remained resilient despite higher fuel costs weighing on drivers and inflationary pressures affecting consumers.
"Elevated fuel costs continue to put a lot of pressure on our drivers, and we're also seeing some inflation... pressuring consumers. But despite that, the consumer continues to come to the platform, order more and spend more," he said.
The company's delivery business benefited from promotional campaigns, while its expansion beyond grocery offerings into categories such as pharmaceuticals and beauty products also contributed to higher usage and larger order values.
GrabMall, its online shopping service, was another contributor to the improved delivery performance.
Meanwhile, its financial services division recorded its first positive quarterly adjusted EBITDA, posting US$12 million in the September quarter, compared with a loss of US$28 million in the corresponding period last year.
The improvement was supported by greater adoption of lending, insurance and other financial products among drivers and merchants using the platform.
Grab is also providing drivers with fuel subsidies, insurance benefits and financing programmes to support their transition to electric vehicles (EVs).
The incentives have helped increase the number of active drivers ahead of the year-end holiday travel season, the company said.
Grab shares rose 5% in extended trading on Monday, although they remained down 42% year-to-date.