Singapore’s Grab forecast fiscal 2026 revenue below Wall Street expectations on Wednesday, signalling slower momentum in the tech firm’s core businesses of ride hailing and deliveries as consumers grapple with economic uncertainty. Shares of the company fell around 4% in extended trading.
Sticky inflation levels amid major Southeast Asian markets, paired with the fallout of the U.S. tariff policies, have prompted consumers to become more selective with spending, as they curb discretionary budgets and look for cost-saving options for regular purchases. Grab has leveraged its Saver platform to lure frugal customers with discounts, offers, and bundling to bring down delivery fees in an attempt to keep up with rapidly changing spending patterns. “We’re going to continue to make our rides affordable, because that’s really one of the fastest growing businesses in terms of adding new users into the platform today,” CFO Peter Oey said. He added that this year the company plans to double down on its grocery business, which is growing 1.7 times faster than its food delivery segment.
The company also announced a $500 million share buyback program. Grab has leveraged its Saver platform to lure frugal customers with discounts, offers, and bundling to bring down delivery fees in an attempt to keep up with rapidly changing spending patterns. “We’re going to continue to make our rides affordable, because that’s really one of the fastest growing businesses in terms of adding new users into the platform today,” CFO Peter Oey said. He added that this year the company plans to double down on its grocery business, which is growing 1.7 times faster than its food delivery segment. The company also announced a $500 million share buyback program.
