Indonesia’s GoTo, the parent of Gojek and GoPay, reported its third straight quarterly net profit on October 29, as stronger fintech performance helped offset pressure from the first full quarter under an 8% commission cap on two-wheel transport.

Net profit reached 441 billion rupiah (US$24.3 million), up from a loss of 255 billion rupiah (US$14 million) a year earlier. Net revenue rose 17% year on year to 5.6 trillion rupiah (US$308 million), while annual transacting users climbed 16% to 72.5 million.

GoTo also raised its 2026 adjusted earnings before interest, taxes, depreciation, and amortization guidance to 3.5 trillion rupiah (US$193 million) to 3.7 trillion rupiah (US$204 million).

The company said it plans to cancel 32 billion treasury shares after shareholder approval. It also bought back almost 3% of its outstanding stock by October 29.

Indonesia’s rule covers two-wheel ride-hailing across platforms, not only GoRide, so it affects rivals such as Grab, as well as GoTo.

🔗 Source: GoTo

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