Grab, the Singapore-based ride-hailing giant, is upgrading its forecast after a better-than-expected first quarter.
The company generated $773 million in revenue for the first quarter of the year, an 18% increase compared to the same period a year earlier. Grab posted strong double-digit percentage growth in its three business segments: mobility, deliveries and financial services. It earned $10 million in quarterly profit, compared to a $115 million loss a year earlier.
