Grab Holdings Raises Full-Year Sales Forecast to $4.2 Billion

Grab Holdings Inc. raised its full-year sales forecast to between US$4.15 billion and US$4.2 billion and increased its adjusted EBITDA projection to as much as US$800 million. The Singapore-based company reported a 74% increase in adjusted EBITDA to US$237 million for the quarter ending September, exceeding analyst expectations. This growth is driven by rising demand for food delivery and ride-hailing in Southeast Asia, where monthly users have reached 57 million.

To diversify its business, the company acquired a majority stake in Atome Financial for US$1.49 billion and purchased Stash Financial for US$425 million. However, expansion efforts faced a setback when the Fair Trade Commission of Taiwan blocked a US$600 million bid to acquire the local operations of Foodpanda.

Grab continues to face operational headwinds, including rising fuel costs and regulatory pressure in Indonesia over commission caps for scooter rides. The company also contends with competition from GoTo Group and Green & Smart Mobility JSC, as well as the potential re-entry of Uber Eats into the market.