Grab says delivery business softening, still 'laser-focused' on profitability

FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore March 21, 2019. REUTERS/Anshuman Daga

(Reuters) - Singapore's Grab Holdings Ltd on Thursday slashed its gross merchandise volume (GMV) outlook for the year, blaming a strong dollar and cooling demand for food delivery services as consumers return to dining outdoors.

U.S.-listed shares of Grab fell 16% in early trading.