GoTo's Q3 losses drop a tad, revenue triples on cost-cutting efforts

GoTo's Q3 losses drop a tad, revenue triples on cost-cutting efforts

GoTo

Indonesia-listed technology group PT GoTo Gojek Tokopedia Tbk managed to trim losses a tad in the July-September quarter as cost management efforts helped the company to meet some of its guidance ahead of time.

GoTo’s losses in the third quarter of 2022 came in lower at 6.8 trillion rupiah ($432 million) compared with 7.6 trillion rupiah in the corresponding period a year earlier. In the Jan-Sept period, however, the company’s losses added up to 20.32 trillion rupiah, almost double of 11.58 trillion rupiah a year earlier, according to its financial report.

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