Grab Sales Top Estimates on Sustained Ride, Delivery Demand

Grab Holdings Ltd. reported quarterly sales that beat analysts’ estimates, a sign of sustained demand for ride-hailing and delivery services in a Southeast Asian economy rattled by global trade tensions.

Revenue rose 23% to $819 million in the three months through June, the Singapore-based company said Thursday. Analysts projected $812 million on average, according to Bloomberg-compiled data. Adjusted earnings before interest, taxes, depreciation and amortization were largely in line with expectations at $109 million.