Grab Holdings Limited (NASDAQ:GRAB) shares edged lower on Tuesday after reporting a profitable start to 2026 and reaffirming full-year guidance.

Southeast Asia's so-called “superapp” posted first-quarter revenue of $955 million. That’s up 24% year over year, or 19% on a constant-currency basis. Analyst comparisons were not provided. GAAP basic EPS was 3 cents, while diluted EPS was a loss of 1 cent.

Adjusted EBITDA rose 46% to $154 million, with margin improving to 16.2% from 13.7%.

Profitability And Platform Metrics

Profit for the period increased to $120 million from $10 million a year earlier. Operating profit was $22 million versus a $21 million loss last year.

On-Demand GMV grew 24% to $6.1 billion, and Group MTUs rose 16% to 51.6 million.

CEO Commentary

"We had a strong start to 2026. Typically the first quarter is our seasonally softest quarter, however our On-Demand GMV growth accelerated to 24% year-over-year (“YoY"), or 21% YoY on a constant currency basis2, marking another quarter of record profitability," CEO Anthony Tan said.

Segment Performance

Deliveries revenue rose 23% to $510 million, GMV increased 25% to $3.91 ...