Grab raises 2026 revenue and profit forecasts on AI, incentives, and demand

Singapore's Grab raised its annual revenue and profit forecasts, citing strong demand for ride-hailing and delivery services driven by promotional offers, driver incentives, and AI initiatives, Reuters reported. The company now expects 2026 revenue between $4.10 billion and $4.15 billion, up from a prior range of $4.04 billion to $4.10 billion. It also lifted its forecast for annual adjusted EBITDA to between US$720 million and US$740 million, from US$700 million to US$720 million earlier, Channel NewsAsia reported. Grab announced a new $750 million share buyback program. Second-quarter revenue rose 22% to $997 million. Gross merchandise value across mobility and deliveries climbed 21% to $6.5 billion in the quarter. The company said it invested $706 million in customer and partner incentives in the second quarter, including more than $7 million to support driver earnings during higher fuel prices. CFO Peter Oey told Reuters that AI investments are improving margins, including shipping products three times faster than last year and cutting nearly 40,000 hours of sales inefficiencies.