By Kimberley Kao
Southeast Asian ride-hailing and delivery specialist Grab Holdings first-quarter profit rose sharply, driven by strong consumer demand, including in its financial-services business.
The Nasdaq-listed company on Tuesday reported a net profit of $120 million, compared with a $10 million profit in the same period a year earlier.
Revenue rose 24%, to $955 million, while adjusted earnings before interest, taxes, depreciation, and amortization rose 46%, to $154 million, for the quarter ended March.
Grab retained its annual adjusted Ebitda forecast between $700 million to $720 million for 2026.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
05-04-26 2011ET
