GOTO's Performance to Rely More on Tokopedia and GOTO Financial

By Editorial Team 31/08/2022
Ilustrasi GoTo
Summary

PT GoTo Gojek Tokopedia Tbk (GOTO) posted double-digit growth in revenues to Rp 3.39 trillion in the first half of this year. Despite increased revenue, GOTO's loss soared 117.28 percent year-on-year (YoY) to Rp 13.64 trillion. Based on the company's financial statement, GOTO's revenue increased 73.32 percent YoY from Rp 1.96 trillion a year earlier.

In detail, income from service fees shot 102.93 percent annually to Rp 7.99 trillion. Rewards skyrocketed 417.77 percent to Rp 1.16 trillion. Delivery services rose 24.33 percent YoY to Rp 907.71 billion. The reward for transactions and payments reached Rp 424.39 billion.

However, higher revenue was eroded by customer promotional costs, which swelled 115.27 percent YoY to Rp 7.34 trillion in January-June 2022. In the same period in 2021, customer promotions reached Rp 3.41 trillion.

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