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A Gojek driver in Jakarta.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
GoTo Group said it reached its first-ever profit on an adjusted basis, a milestone for the Indonesian ride-hailing and food delivery company trying to convince investors of its money-making potential.
The Jakarta-based company hit positive adjusted earnings before interest, taxes, depreciation and amortization in the fourth quarter, it said in a statement Wednesday, without disclosing any figures. GoTo also said full-year loss on that basis was smaller than 3.8 trillion rupiah ($241 million), or narrower than its previous forecast.