Grab Boosts Revenue Forecast as Shares Surge After Strong Quarter

The Southeast Asian tech giant sees significant growth in its delivery and ride-hailing sectors, driven by increased demand in Thailand.

Grab reported a 17% year-on-year revenue growth to $716 million for the third quarter, surpassing market expectations.
The company raised its annual revenue forecast to between $2.76 billion and $2.78 billion, up from its previous estimate.
Grab's ride-hailing and delivery segments saw substantial growth, with the financial services segment growing 34%.
Shares of Grab jumped over 10% in after-hours trading following the release of its improved financial outlook.
CEO Anthony Tan highlighted strong tourism in Thailand as a key factor driving growth, with the company also benefiting from post-pandemic economic recovery.