Grab's strong performance in the September quarter was attributed to growth in all three business segments, reflecting a resilient demand in the Southeast Asian market.
CEO Anthony Tan highlighted the strengthening of inbound tourism in Thailand as a crucial driver for Grab's growth, stating, 'We’re really blessed to see that strengthening of inbound tourism.'
The superapp reported a net profit of $15 million for the quarter, marking a significant turnaround from a loss of $99 million a year prior.
Following the strong quarterly results, Grab increased its annual revenue guidance to between $2.76 billion and $2.78 billion, along with a raised profit outlook.
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