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GOTO Loses IDR 20 Trillion in 9 Months

GOTO Loses IDR 20 Trillion in 9 Months

Medan, Andrianus.my.id - PT GoTo Gojek Tokopedia Tbk. (GOTO) posted a net loss of IDR 20.9 trillion until the third quarter of 2022. This loss jumped 32% compared to last year's third quarter loss of Rp 15.8 trillion.

This result is a performance that combines the merger of Gojek and Tokopedia. However, GOTO's net loss decreased by 10.8% quarter on quarter (qoq) compared to conditions per semester I/2022 of IDR 7.6 trillion.

This is because the net loss during the third quarter of 2022 reached IDR 6.8 trillion. As for the accumulation during the current year, the loss reached IDR 20.9 trillion.

On the other hand, GOTO recorded revenue of IDR 7.97 trillion in the third quarter of 2022. That number has increased by 98% from last year's position of Rp 4.03 trillion in performance.

Previously, GoTo downsized 1,300 employees or around 12% of the total permanent employees. This is inseparable from the company's enormous operating expenses.

Meanwhile the share price itself fell 12 points (5.41%) to a level of Rp 210 per share.

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