Grab Holdings Raises Earnings Forecast Amid Downturn, Shared Rides, Deliveries Boost Growth

Grab Holdings raised its full-year earnings forecast to $490-500 million, beating its previous forecast of $480 million. The Singapore-based company narrowed its sales forecast range, keeping the higher end at $3.4 billion. Grab's shared rides and group food orders are helping it compete with Indonesia's GoTo Group and other regional contenders. The company is seeing increased engagement and spending from new users on its affordable channels.