By Zaheer Kachwala

(Reuters) -Grab Holdings beat Wall Street expectations for first-quarter revenue on Tuesday, as the company benefited from strong spending on its ride-hailing and food delivery platform despite economic uncertainty.

The company reported revenue of $773 million for the first quarter, compared with estimates of $762.6 million, according to data compiled by LSEG.

Grab’s move to make its platform a "superapp" by incorporating financial services has strengthened its dominant position in Southeast Asia’s online services industry, even as economic uncertainty weighs on consumer sentiment.

U.S. President Donald Trump’s shifting trade policy has triggered worries of higher costs, a spike in inflation and the possibility of a recession ahead, sending shockwaves through the corporate world.

Singapore’s monetary authority said on Monday that the tariffs would create a "demand shock" to the country’s economy, with broader negative effects.

Grab’s financial chief, Peter Oey, told Reuters that the company is "not seeing a slowdown" in its business despite the tariff negotiations.

He added that the company’s grocery delivery segment, GrabMart grew faster than other delivery businesses during the month of Ramadan — a period where food delivery firms typically experience a shift in demand.

With competition in the online services industry heating up, companies are looking to consolidate their market share and expand operations.

Grab is reportedly seeking to secure a loan of up to $2 billion to support the acquisition of smaller Indonesian rival GoTo.

Oey declined to comment on rumors but emphasized the company’s commitment to the Indonesian market, which he describes as "underpenetrated."

Revenue for the company’s deliveries segment rose 18% to $415 million in the quarter ended March 31, compared with analysts’ expectations of $396 million.

Grab reported mobility revenue of $282 million, compared with estimates of $287 million. Revenue for its financial services segment jumped 36%.