GOTO Loss Reaches Rp4.3 Trillion at the End of Q3 2024

PT GoTo Gojek Tokopedia Tbk (GOTO) reported a net loss attributable to the parent entity of Rp4.31 trillion (approximately US$287 million) for the January-September 2024 period. This loss represents a 54.82% year-on-year (YoY) decrease from the Rp9.54 trillion loss in the same period last year.

Net revenue for the company, with the stock code GOTO, increased by 10.95% YoY to Rp11.66 trillion.

GOTO's core gross transaction value (GTV) also rose by 74% YoY to Rp72 trillion, while group GTV grew by 37% YoY to Rp137.4 trillion.

GOTO President Director Patrick Walujo stated that the company's strong performance this quarter aligns with the optimal performance across all business lines.

"With this positive development, we also expect the fintech segment to achieve positive adjusted EBITDA in the next quarter, one year ahead of our previous guidance," said Patrick in a press release on Wednesday, October 30, 2024.

GoTo Group Chief Financial Officer Simon Ho also noted the company's strong business growth, particularly in the fintech segment.

"We continue to be prudent in managing expenses. This is clearly reflected in the top-line growth and bottom-line improvement, both at the business unit and group levels," he said.