JAKARTA - PT Gojek Tokopedia Tbk (GOTO) managed to cut loss by up to 49% in the first half of 2023 as the net revenue skyrocketed 102% year-on-year (yoy).

In the press release quoted Wednesday (16/8), it is revealed that the net revenue was recorded at IDR 6.88 trillion in the first half of 2023, shifting from the same period in 2022 of IDR 3.4 trillion. Meanwhile, the gross profit climbed 10% to IDR 11.81 trillion from IDR 10.73 trillion, leading to net loss of IDR 7.21 trillion, which was 49% lower than IDR 14.17 trillion.

Adjusted EBITDA also rose 69% to minus IDR 2.80 trillion from the initial IDR 9.18 trillion.

The main contributor of the revenue is services, which generated IDR 3.96 trillion, shifting from IDR 1.1 trillion. Advertising revenue slowed down from IDR 1.15 trillion to IDR 1.10 trillion, followed by delivery services that grew from IDR 567.31 billion to IDR 971.94 billion, and others that shifted from IDR 576.53 billion to IDR 840.35 billion. (LK/ZH)