Indonesia's GoTo Extends Net Loss in First Three Quarters

GoTo, which went public in April, more than doubled its revenue for the first three quarters to 7.9 trillion rupiah. Photo: VCG

(Nikkei Asia) — Indonesian tech giant GoTo Group said on Monday it recorded a net loss of 20.3 trillion rupiah ($1.29 billion) for the first nine months of this year, widening by 75% from the same period in 2021, as the company continues struggling to turn a profit.

GoTo, which went public in April, also said in a financial statement that revenue for the first three quarters through the end of September more than doubled to 7.9 trillion rupiah from the same period last year.