AI helps Singapore’s Grab woo tough Southeast Asian crowd, exceed expectations

AdvertisementSingaporeAsiaSoutheast AsiaAI helps Singapore’s Grab woo tough Southeast Asian crowd, exceed expectations

The company has promoted more affordable offerings to woo customers grappling with higher costs of living triggered by soaring fuel prices

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ReutersPublished: 9:11am, 5 May 2026Singapore’s Grab reported first-quarter profit that exceeded analysts’ estimates, helped by resilient demand for ride hailing and delivery in a market rattled by economic and political challenges.Southeast Asia’s biggest ride-hailing and delivery firm has been trying to boost spending on its platform by incorporating artificial-intelligence features into its superapp and bundling its core ride-hailing, delivery and financial services.

With oil and gas prices soaring due to the war in the Middle East, the company has also promoted more affordable offerings, including a “saver” option, to woo customers grappling with higher costs of living.

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About 35 per cent of its users are on the “saver” programme, opting for cheaper deliveries, CFO Peter Oey said.

“It is a very good balance between the price-sensitive customers and for those ⁠who are less ⁠price-sensitive. That gives us the levers also to continue to make sure that our margin for our delivery business ‌continues to improve,” he said.

AdvertisementGrab’s quarterly revenue rose 24 per cent from a year earlier to US$955 million, compared with analysts’ estimates of US$921.1 million, according to data compiled by LSEG.

Deliveries revenue increased 23 per cent to US$510 million, while mobility revenue was ‌up 19 per cent at US$337 million.

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