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GoTo investors may need a more exciting growth story

Its struggling share price, despite narrower losses, may reflect expectations to ‘go big or go home’

Sharanya Pillai

Sharanya Pillai

Published Thu, Aug 8, 2024 · 05:00 AM
    • GoTo reported that Q2 revenue was up 39% to 4.3 trillion rupiah. Of this, 3.4 trillion rupiah came from the on-demand segment, which includes ride-hailing service Gojek.
    • GoTo reported that Q2 revenue was up 39% to 4.3 trillion rupiah. Of this, 3.4 trillion rupiah came from the on-demand segment, which includes ride-hailing service Gojek. PHOTO: BLOOMBERG

    INDONESIA’S GoTo Group is seeing losses narrow since handing control of its e-commerce arm to social media giant TikTok. But its share price is still down 85 per cent since its debut on the domestic bourse two years ago.

    Investors could be looking for more exciting earnings drivers from the ride-hailing and food delivery player.

    Last week, GoTo reported a 48 billion rupiah (S$4 million) adjusted loss before interest, taxes, depreciation and amortisation for the second quarter ended June.

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