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UPDATE 1-Grab lifts revenue outlook on rideshare, food delivery strength

Reuters · 11/16/2022 07:15
UPDATE 1-Grab lifts revenue outlook on rideshare, food delivery strength

Adds background, shares

- Grab Holdings Ltd GRAB.O on Wednesday raised its forecast for annual revenue as demand for its ride-hailing service and food deliveries remains strong across Southeast Asia.

U.S.-listed shares of Southeast Asia's biggest ride-hailing and food delivery firm rose 8% in trading before the bell.

Decade-old Grab has become a go-to for consumers in the region as they increasingly step out and return to offices.

The company said it expected revenue between $1.32 billion and $1.35 billion. It had previously forecast revenue between $1.25 billion and $1.30 billion for the year.

Grab also raised its forecast for annual gross merchandise volume growth (GMV) to between 22% and 25%. It had previously forecast GMV growth of 21% to 25% for the year.


(Reporting by Vansh Agarwal in Bengaluru; Editing by Sriraj Kalluvila and Devika Syamnath)

((Vansh.Agarwal@thomsonreuters.com;))