GRAB
Grab’s getting its swagger back
Grab posted a strong second quarter, and the market liked the script: better-than-expected EPS, slightly hotter-than-expected revenue, and a raised full-year revenue outlook. When a company beats, lifts guidance, and still sounds confident about demand, that’s usually enough to get investors leaning forward instead of doom-scrolling.
The numbers weren’t just good — they had some muscle
EPS came in at 6 cents versus the 2-cent consensus, while revenue hit $997 million, topping estimates of $990.8 million. More importantly, the growth story wasn’t just “we raised prices and called it a day.” Grab said volumes and user expansion did the heavy lifting, which is the kind of underlying demand investors actually want to see.
A few other nuggets worth filing away:
- Adjusted EBITDA jumped 54% year over year to $168 million
- This was Grab’s 18th straight quarter of profitability expansion
- The company added another $750 million to its share repurchase program, bringing total authorized buybacks since 2024 to $1.75 billion
The business is humming in more than one lane
Mobility, deliveries, and financial services all showed solid momentum. Mobility GMV rose 18% and monthly active driver partners hit a record, while deliveries GMV grew 24% on a constant-currency basis. Financial services was the speed demon, with revenue up 59% and loan disbursements up 72% year over year.
That matters because Grab isn’t just trying to be the app you open for lunch or a ride home. It’s trying to become the everything app that keeps users inside the ecosystem long enough to squeeze out more profit per tap.
Why investors care
Grab raised FY2026 revenue guidance to $4.10 billion–$4.15 billion from $4.04 billion–$4.10 billion, with the midpoint nudging above analyst expectations. Translation: management sees more fuel in the tank, especially as Superbank consolidation and the Stash acquisition kick in.
Big picture: Grab is starting to look less like a growth story that needs faith and more like a growth story that can point to actual cash, actual margins, and actual buybacks. That’s a much nicer cocktail for shareholders.