Indonesia’s GoTo posts first full-year underlying profit, eyes strong growth for 2025.
Indonesia’s biggest tech firm PT GoTo Gojek Tokopedia on Wednesday forecast a sharp increase in its underlying earnings for 2025, while also reporting its first full-year underlying profit for last year.
GoTo, which offers ride-hailing, food deliveries, logistics and financial services, forecast core earnings, or adjusted EBITDA, of between 1.4 trillion rupiah and 1.6 trillion rupiah ($85.16 million and $97.32 million) for the current year.
It swung to an underlying profit of 327 billion rupiah for 2024, from a loss of 3.670 trillion rupiah last year.
The firm’s financial technology segment, whose earnings jumped 70% last year, is expected to expand further in 2025 as the user base for its GoPay app and its loan book grows, the company said.
Source: FINANCE.YAHOO