Indonesia’s GoTo reports wider nine-month loss


Motorcyclists travel past a billboard advertising GoTo’s initial public offering in Jakarta, Indonesia, on Friday, April 8, 2022. GoTo, formed through the merger of Gojek with e-commerce pioneer Tokopedia, raised $1.1 billion in one of the worlds biggest stock debuts this year and is slated to list in Jakarta April 11.

Dimas Ardian | Bloomberg | Getty Images

Indonesia’s GoTo Group reported its nine-month accumulated losses surged from a year ago, even as quarterly losses shrank as the company cut costs.

GoTo accumulated a loss of 20.32 trillion rupiah ($1.29 billion) between January and September, far more than the 11.58 trillion rupiah loss reported a year ago.

Shares of GoTo were down 6%…

Source cnbc.com

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