The nation’s largest tech company nears breakeven with a reduced Q3 loss of US$59 million.
The suspension of TikTok’s online retail in Indonesia benefited GoTo’s Tokopedia e-commerce operations.
Net revenue, which strips out incentives to driver and merchant partners and promotions to users, fell 21% to 3.6 trillion rupiah after the company made accounting adjustments related to such incentives. Like rivals Grab Holdings Ltd and Sea Ltd, GoTo is trying to generate cash after years of rapid growth.
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