By Kimberley Kao
Southeast Asian ride-hailing and delivery specialist Grab Holdings delivered a profit in the second quarter thanks to strong consumer demand despite ongoing economic uncertainties.
The Nasdaq-listed company on Thursday reported a net profit of $20 million, compared with a $68 million loss in the same period a year earlier. Analysts had expected a net profit of $17.53 million, according to a Visible Alpha consensus estimate.
This was primarily driven by its positive operating profit, supported by "increases in revenue, improved margins, disciplined cost management and lower share-based compensation expenses," Grab said.
Revenue rose 23% to $819 million, driven by growth across on-demand and financial services segments.
Its adjusted earnings before interest, taxes, depreciation, and amortization rose 69% to $109 million for the quarter ended June.
Users of its subscriber program, GrabUnlimited, continued to drive higher average spend and frequency in food relative to non-subscribers, Grab said.
"Despite the volatility in the macroeconomic environment, the product-led investments we continue to make to enhance the affordability and reliability of our services have further deepened user engagement and retention, and brought new users to the Grab ecosystem," co-founder and Chief Executive Anthony Tan said.
Grab maintained its annual adjusted Ebitda forecast at between $460 million and $480 million, and expects a stronger second half of the year compared with the first half. The metric excludes restructuring costs, share-based compensation expenses, fair-value changes on investments and other expenses.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
July 30, 2025 20:37 ET (00:37 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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