KOTA KINABALU: Grab Holdings reported a 23pc year-on-year revenue jump to US$819 million for Q2, surpassing analysts’ forecast of US$812 million.
Adjusted EBITDA came in at US$109 million, meeting expectations.
Despite tough competition from Indonesia’s GoTo Group and other new players, Grab added 2 million monthly users, reaching 46 million, helped by broader product offerings.
window.googletag = window.googletag || {cmd: []};googletag.cmd.push(function() {googletag.defineSlot('/22826383987/dailyexpress_inline', [1, 1], 'gpt-passback').addService(googletag.pubads());googletag.enableServices();googletag.display('gpt-passback');});Speculation of a Grab-GoTo merger resurfaced after Grab sold US$1.5 billion in convertible bonds, but the company denied ongoing talks.
Discussions had reportedly slowed due to regulatory concerns, with Indonesia’s antitrust body warning against monopolistic outcomes.
Shares remain well below Grab’s 2021 IPO price, though they've risen 60pc over the past year.
The company, backed by Uber, is also pushing into digital finance, expecting to issue over US$1 billion in loans by year-end, and exploring autonomous technologies.
CFO Peter Oey said new features like family accounts and pooled food orders are driving user spending and will “continue building on the product-led strategy.”