Grab Second-Quarter Net Beats Estimates; Lifts Earnings Guidance
By P.R. Venkat
Southeast Asian ride-hailing and delivery specialist Grab reported stronger profit in the second quarter, driven by strong performance in its on-demand and financial-services businesses.
The Nasdaq-listed company on Tuesday posted net profit of $235 million, up from profit of $20 million in the year-ago period.
Analysts had expected net profit of $67.6 million, according to a Visible Alpha consensus.
Revenue rose 22% to $997 million.
Adjusted earnings before interest, taxes, depreciation, and amortization rose 54% to $168 million for the three months ended June.
Grab also announced a $750 million share repurchase program, bringing its cumulative buyback authorization since 2024 to $1.75 billion.
The company also raised its annual adjusted Ebitda forecast to between $720 million and $740 million from $700 million to $720 million.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
August 03, 2026 19:10 ET (23:10 GMT)
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