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The company also benefited from growing demand for ride-share as
people resume their pre-pandemic routines.
Grab said gross merchandise volume (GMV), a measure of
transaction volume, rose 32% in the first quarter to $4.8
billion from a year earlier.
For the second quarter, Grab forecast GMV for deliveries between
$2.55 billion and $2.65 billion, and for the mobility segment to
be between $0.95 billion and $1 billion, betting the worst of
the pandemic was over.
The company expects supply of cars on the road to stabilize in
the second half of the year, and that driver incentives as a
percentage of GMV to taper in that period.
Revenue for the first quarter was $228 million, compared with
$216 million a year earlier.
Loss for the period narrowed to $435 million from $666 million.
(Reporting by Nivedita Balu in Bengaluru)
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