Archive · 13 Aug 2025
GoTo Posts Fourth Straight Profit Amid Cost-Cutting Measures
GoTo, a company in Indonesia, made a profit for the fourth time in a row after cutting costs.
They earned about $26 million this past quarter, with increased revenue.
They're trying to show investors they can make money, so they're reducing spending, like laying off employees.
They face tough competition, especially from Grab, another big company.
There was talk of Grab buying GoTo, but Grab says they are not in talks currently.
GoTo sold part of its e-commerce business to TikTok to save money and is focusing on the Indonesian and Singapore markets.
They're also working on things like consumer loans.
GoTo Group achieved its fourth consecutive quarter of adjusted profit.
Adjusted earnings before interest, taxes, depreciation and amortization were 427 billion rupiah ($26 million) for Q2.
Net revenue climbed 23% to 4.3 trillion rupiah.
GoTo is cutting costs, including job cuts and closing business units, due to cooling user growth and competition.
Grab Holdings Ltd. reportedly considered a takeover of GoTo.
- Who
- GoTo Group.
- What
- GoTo Group reported a fourth consecutive quarter of adjusted profit and increased revenue.
- When
- The earnings are for the second quarter.
- Where
- Indonesia.
- Why
- GoTo is working to improve profitability and prove it can make money amid market competition.
GoTo's current state
Investor reaction
Investor Sentiment
GoTo's current state
GoTo is focusing on profitability
Investor reaction
Investors remain cautious as the stock price is down
- Adjusted Q2 Profit
- 427 billion rupiah ($26 million)
- Net Revenue Increase
- 23% (pro forma)
- Net Revenue
- 4.3 trillion rupiah
- Stock Price Change (past 12 months)
- Up more than 20%
- Reported Takeover Consideration
- Grab Holdings Ltd. considered a takeover
- E-commerce Deal
- GoTo sold e-commerce unit to ByteDance Ltd.’s TikTok