It has been about a month since the last earnings report for Grab Holdings Limited (GRAB Quick QuoteGRAB - Free Report) . Shares have lost about 7% in that time frame, underperforming the S&P 500.

Will the recent negative trend continue leading up to its next earnings release, or is Grab due for a breakout? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Grab Holdings Limited before we dive into how investors and analysts have reacted as of late.

GRAB Q2 Earnings Beat Estimates

Grab Holdings Limited reported second-quarter 2026 earnings per share of 6 cents, which surpassed the Zacks Consensus Estimate of earnings of a penny per share. In the year-ago quarter, GRAB reported earnings of 1 cent per share.

Quarterly revenues of $997 million missed the Zacks Consensus Estimate of $1.00 billion. The top line, however, improved 22% year over year on a reported basis or 21% on a constant currency basis. The upside was owing to growth across the company’s On-Demand and Financial Services segments.

On-Demand Gross Merchandise Value (GMV) grew 21% year over year or 22% on a constant currency basis to $6.46 billion. On-Demand monthly transacting users (MTUs) increased 17% on a year-over-year basis.

Adjusted EBITDA of $168 million improved 54% year over year, owing to revenue growth and improved profitability across segments. Adjusted EBITDA margin rose to 16.9% from 13.3% in the second quarter of 2025.

GRAB’s Q2 Segmental Details

Revenues at Grab’s deliveries segment grew 21% year over year, or 19% year over year on a constant currency basis, to $531 million in the first quarter of 2026. The uptick was owing to growth in Deliveries GMV and Advertising business revenues.

Mobility segment revenues grew 12% year over year as well as on a constant currency basis to $331 million. The upside was backed by solid growth in Mobility GMV and continued expansion of Mobility MTUs and transactions.

Revenues for the Financial Services segment improved 59% year over year, or 62% year over year on a constant currency basis, to $134 million in the second quarter of 2026. Growth was backed by increased contributions from lending across GrabFin and Digibanks.

Revenues for Others were $1 million in the second quarter of 2026.

Liquidity & Cash Flow

GRAB exited the second quarter of 2026 with cash liquidity of $7.4 billion compared with $6.9 billion at the end of the prior quarter.

GRAB used $56 million of net cash from operating activities in the second quarter of 2026. Capital expenditures totaled $49 million. Adjusted free cash flow was $73 million during the reported quarter.

GRAB’s 2026 Guidance

Grab raised its 2026 revenues between $4.10 billion and $4.15 billion, indicating 22-23% year-over-year growth (prior view: $4.04 billion and $4.10 billion, indicating 20-22% year-over-year growth). The Zacks Consensus Estimate is currently pegged at $4.09 billion.

Adjusted EBITDA for 2026 is now expected to be in the band of $720 million-$740 million (prior view: $700-$720 million). The updated EBITDA guidance hints at year-over-year growth in the 44-48% range.

How Have Estimates Been Moving Since Then?

Analysts were quiet during the last two month period as none of them issued any earnings estimate revisions.

VGM Scores

Currently, Grab has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a score of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Grab has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.