Efficiency Impact, GOTO Gets Positive Performance Trends in Q1 2023
Net loss in the three-month period ending March 31, 2023 reached IDR 3,9 trillion, this figure decreased by 41%
PT GoTo Gojek Tokopedia Tbk (GOTO) recently announced the company's performance in the first quarter of 2023. This report shows that the efficiency strategy used by the company is quite effective in reducing losses and increasing adjusted EBITDA growth. This achievement cannot be separated from business contributions on-demand and e-commerce.
On March 31, 2023 and December 31, 2022, the company recorded a total accumulated loss of IDR 122,3 trillion and IDR 118,4 trillion, respectively. Specifically, the net loss for the three-month period ended March 31, 2023 reached IDR 3,9 trillion, this figure decreased by 41% compared to IDR 6,6 trillion in the same period in 2022.
At the beginning of this year, the GOTO Group also issued a new guideline stating the company's focus on achieving EBITDA adjusted positively in the fourth quarter of 2023. In this first quarter, the GOTO Group managed to increase its adjusted EBITDA by 67% compared to the same period the previous year, and 49% compared to the previous quarter.
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