GoTo stock posts third straight quarterly profit as outlook rises

PT GoTo Gojek Tokopedia reported a third consecutive quarterly profit on October 29, marking another step in its effort to build sustained earnings. According to the company's earnings release, net profit reached Rp441 billion in the three months ended September 30, compared with a net loss of Rp255 billion a year earlier.

Profitability expands across the group

GoTo's net revenue increased 17 percent year over year to Rp5.6 trillion. Adjusted EBITDA rose 84 percent to Rp950 billion, while annual transacting users increased 16 percent to 72.5 million and core gross transaction value climbed 89 percent to Rp194 trillion.

The result included a full quarter under Indonesia's 8 percent commission cap for two-wheel transport. GoTo said the cap reduced mobility profitability, but delivery and financial technology helped offset the pressure. GoPay adjusted EBITDA rose 304 percent year over year to Rp550 billion, supported by a 49 percent increase in fintech net revenue.

Guidance points to continued investment

Management raised full-year adjusted EBITDA guidance to Rp3.5 trillion to Rp3.7 trillion from Rp3.2 trillion to Rp3.4 trillion previously. Fintech guidance also increased, while the outlook for on-demand services was widened to reflect regulatory uncertainty in delivery and transport.

GoTo also said shareholders approved the cancellation of 32 billion treasury shares, representing about 2.7 percent of shares outstanding. The company had repurchased 36 billion shares for Rp985 billion by October 29, with Rp2.5 trillion remaining under its current buyback authorization through June 2027.

GoTo's business and market position

GoTo operates Indonesia's largest digital ecosystem, spanning mobility, delivery, payments, financial services and technology solutions for merchants. Its ecosystem includes Gojek, GoPay, Tokopedia's e-commerce services and banking services provided through a partnership with Bank Jago. The broad platform gives GoTo exposure to several digital markets while its mobility operations remain sensitive to commission regulation.

Investors can follow broader developments in current market reports.