economy

AI is helping Grab ship products more than 30% faster, CFO says, as company raises forecasts

Grab reported second-quarter results on Tuesday and raised its full-year outlook.

AI is helping Grab ship products more than 30% faster, CFO says, as company raises forecasts

TL;DR

  • Grab reported record second-quarter results and raised its full-year outlook.
  • The company saw a 28% year-on-year increase in ride numbers.
  • Revenue grew 22% year-on-year to $997 million, with operating profit at $19 million.
  • AI has helped Grab ship products over 30% faster, improving margins and cost structure.
  • The full-year revenue outlook was raised to $4.10 billion-$4.15 billion.
  • EBITDA estimates were increased to $720 million-$740 million.
  • Grab is working with regulators on its agreement to buy Delivery Hero's foodpanda business in Taiwan, aiming for a second-half closing.
  • The company is confident in strong demand and the scaling of its financial services.

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