GoTo's Losses Shrink, Revenue Soars 102% in H1 2023

Market

Premium

Cindy Mutia Annur 16/08/2023 19:10 WIB

URL has been copied

Memuat...

GOTO recorded a net loss of Rp 7.21 trillion in the first half of 2023. This improved performance was also driven by a surge in GOTO's net revenue, which soared by 102.94% year-on-year (yoy) to Rp 6.8

GoTo's Net Income Statement for Semester I (2022-2023)

A Small Font
A Medium Font
A Bigger Font

You are accessing content Single Data Premium.
To continue, please subscribe or buy individually.

Professional

Enjoy premium access with a more affordable price.

Start from

~~Rp300.000~~ 150.000/month

Access more premium content and exclusive features for customers.

Start from

50.000/month

Hanya Rp833 per artikel

More details »

Buy Retail

Read the article immediately “GoTo's Losses Shrink, Revenue Soars 102% in H1 2023”.

Rp10.000

We accept the following payments:

Some payment methods are still in the process of being activated.

GoTo's Net Income Statement for Semester I (2022-2023)

Download

Source

A Small Font
A Medium Font
A Bigger Font

PT GoTo Gojek Tokopedia Tbk (GOTO) reported a net loss of Rp7.21 trillion (approximately US$470 million) in the first half of 2023. This represents a 49.08% decrease year-on-year (YoY) compared to the Rp14.16 trillion loss in the first half of 2022.

The tech company's net loss decreased in line with a 32.27% YoY reduction in GOTO's operating expenses to Rp12.99 trillion in the first half of 2023.

One of the expenses GOTO cut in the first half of this year was sales and marketing expenses, which decreased by 48.1% YoY to Rp3.29 trillion, from Rp6.34 trillion previously.

This improved performance was also driven by a surge in GOTO's net revenue, which soared by 102.94% YoY to Rp6.88 trillion during the first half of 2023, compared to Rp3.39 trillion in the same period last year.

GOTO's largest net revenue came from service fees (commissions), which increased significantly by 260% YoY in the first half of 2023 from Rp1.1 trillion to Rp3.96 trillion.

Meanwhile, contributions from other revenue streams, such as advertising revenue, decreased by 4.34% YoY to Rp1.10 trillion, while delivery service fees increased by 71.31% YoY to Rp971.94 billion.

Additional revenue from other segments amounted to Rp840.35 billion, up 45.75% from Rp576.54 billion in the first half of 2022.

GoTo Group's Chief Financial Officer, Jacky Lo, stated that the company's key profitability metrics have continued to show progress for six consecutive quarters, driven by the reduction of unproductive incentives and product marketing programs. On the other hand, the company remains focused on profitable consumers.

"Revenue increased year-on-year as a result of increased monetization across our business lines, with the group's take rate reaching 4.1%, or an increase of 40 basis points year-on-year," said Jacky in a press release on Tuesday (August 15, 2023).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

Related Data

The Majority of Indonesian E-Commerce Entrepreneurs are High School Graduates in 2024

E-Commerce Shipping in Indonesia Concentrated in Java in 2024

10 Best-Selling Cotton Brands on Shopee Indonesia in Q2 2025

5 Illegal Processed Food Products Widely Sold on Indonesian Marketplaces

5 Electronic Product Brands with the Strongest Value According to Indonesia's Middle Class

Prevalence of Food Consumption Inadequacy in Purbalingga Decreased by 1.45% in the Last Year

Latest Data Stories

Indonesia's Rubber Plantation Area Decreased in 2024, Lowest in a Decade Agroindustry 07/12/2025, 19:00 WIB

The Majority of Indonesian E-Commerce Entrepreneurs are High School Graduates in 2024 Technology & Telecommunications 07/12/2025, 18:43 WIB

Tonight's weather forecast for Konawe Islands: Light rain expected today. Demographics 07/12/2025, 18:39 WIB

Some Indonesian Educators Are Still Not University Graduates in 2024 Education 07/12/2025, 18:30 WIB

E-Commerce Shipping in Indonesia Concentrated in Java in 2024 Technology & Telecommunications 07/12/2025, 18:14 WIB

Wuling Mini EV Overtakes Tesla to Become the World's Best-Selling Electric Car in October 2025 Transportation & Logistics 07/12/2025, 17:53 WIB

Download

Source

GoTo's Losses Shrink, Revenue Soars 102% in H1 2023

Tags

Related Data

The Majority of Indonesian E-Commerce Entrepreneurs are High School Graduates in 2024

E-Commerce Shipping in Indonesia Concentrated in Java in 2024

10 Best-Selling Cotton Brands on Shopee Indonesia in Q2 2025

5 Illegal Processed Food Products Widely Sold on Indonesian Marketplaces

5 Electronic Product Brands with the Strongest Value According to Indonesia's Middle Class

Prevalence of Food Consumption Inadequacy in Purbalingga Decreased by 1.45% in the Last Year

Latest Data Stories

Popular Data

GoTo's Losses Shrink, Revenue Soars 102% in H1 2023

Tags

Related Data

The Majority of Indonesian E-Commerce Entrepreneurs are High School Graduates in 2024

E-Commerce Shipping in Indonesia Concentrated in Java in 2024

10 Best-Selling Cotton Brands on Shopee Indonesia in Q2 2025

5 Illegal Processed Food Products Widely Sold on Indonesian Marketplaces

5 Electronic Product Brands with the Strongest Value According to Indonesia's Middle Class

Prevalence of Food Consumption Inadequacy in Purbalingga Decreased by 1.45% in the Last Year

Latest Data Stories

Trending Topics

Popular Data