Singapore’s Grab lifts annual forecasts as AI, incentives drive growth

Singapore’s Grab raised its annual revenue and profit forecasts on Tuesday, encouraged by strong demand for its ride-hailing and delivery services driven by promotional offers, driver incentives and its AI initiatives.

The upbeat projections and a new $750 million share buyback programme pushed shares of the Nasdaq-listed company up 4% ‌in extended trading.

Grab, ⁠the biggest ⁠ride-hailing and delivery firm in Southeast Asia, has banked on features including order bundling and a budget-friendly ​tier called “Saver” to target cost-conscious customers grappling with higher fuel prices following the Iran war.