First-quarter sales rose 18% to US$773 million, surpassing the average estimate of US$766 million.
Grab Holdings raised its full-year earnings forecast after quarterly sales beat estimates, a sign that the Southeast Asian ride-hailing and food-delivery market might be a bright spot in a tech industry rattled by global trade tensions.
Adjusted earnings before interest, taxes, depreciation and amortization will be as much as US$480 million ($627.95 million) this year, rather than the up to US$470 million projected previously, Singapore-based Grab said Wednesday. Analysts were predicting US$467.6 million.
