Grab Raises Outlook After Money-Saving Products Fuel Rides

Grab Holdings Ltd. raised its earnings forecast for the year after quarterly profit topped estimates, helped by novel offerings such as shared rides and deliveries that drew consumers during an economic downturn.

The Singapore-based company predicted $490 million to $500 million in adjusted full-year earnings before interest, taxes, depreciation and amortization, more than the as much as $480 million it had forecast earlier. Grab also narrowed its full-year sales forecast range, keeping the higher end unchanged at $3.4 billion.