Grab Lifts Revenue Outlook as Ride-Hailing Demand Surges

Grab Holdings raised its 2026 financial targets on Tuesday, citing sustained demand for its ride-hailing and delivery operations. The Singapore-based firm, which serves as Southeast Asia's largest platform in these sectors, projected annual revenue between $4.15 billion and $4.20 billion. This represents an increase from its previous forecast of $4.10 billion to $4.15 billion.

The company also adjusted its expected annual adjusted EBITDA upward. Grab now anticipates this metric to fall between $790 million and $800 million, a step up from the earlier range of $720 million to $740 million. These revisions follow strong performance in the third quarter ending in September.

User engagement reached new highs during the period. Grab reported a record 57 million monthly transacting users, an increase from 54 million in the preceding quarter. CEO Anthony Tan attributed this growth to targeted consumer promotions and driver incentives. He stated that despite high fuel prices and regional economic challenges, more users are transacting on the platform than ever before.

Financial results for the third quarter showed total revenue rising 27% to $1.11 billion. This figure exceeded analyst estimates of $1.07 billion, according to LSEG data. Gross merchandise value across mobility and delivery units climbed 18% to $6.8 billion for the quarter.

The company also marked a milestone in its diversification efforts. Grab recorded its first core profit in its financial services division. This unit provides loans, insurance, and other financial products to drivers and merchants on the platform. Grab shares gained more than 3% in extended trading following the announcement, even though they had declined 42% earlier in the year.