Grab’s 2025 ride isn’t bumpy (yet)

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Hello reader,

My trips to Southeast Asia have always been smooth, thanks to the region’s reliable ride-hailing services. Whether it was Xanh SM in Vietnam or Grab in Singapore and Malaysia, the cars were clean, the rides arrived on time, and the drivers were courteous.

In India, EV player BluSmart was offering that same level of service until recently. The company has suspended operations after two of its co-founders came under scrutiny by the market regulator for alleged financial fraud.

Since then, finding clean, dependable cabs in my area has become a challenge. The bottom line? Ride-hailing has evolved from a convenience to a daily necessity, and when it breaks down, we feel the gap immediately.

In this week’s Big Story, we take a closer look at the numbers that define Grab’s trajectory so far this year. Macro concerns in Indonesia and the uncertainty of Trump’s tariffs don’t seem to have affected the company just yet.

In fact, it actually raised its forecast for its 2025 adjusted earnings by around 3%. Read on to find out which numbers matter.

— Samreen

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THE BIG STORY

Grab’s financial health in 8 charts
In the first quarter of 2025, Grab’s revenue increased by 18% year on year to hit US$773 million.

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3 TRENDS TO KEEP AN EYE ON

Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.

1️⃣ Red flag for Zomato?: Zomato’s (ZOMATO, BSE) quick commerce bet – through its ownership of Blinkit – seems to be eating into its finances.

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2 EYE POPPING FACTS

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THE ONE YOU DIDN’T SEE COMING

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Join the region’s sharpest minds in confronting the state of play and the path forward

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