GoTo posts Rp441 billion third-quarter profit as GoPay supports earnings
The Indonesian group raised its 2026 adjusted EBITDA guidance despite pressure on Gojek from an 8 per cent GoRide commission cap.
PT GoTo Gojek Tokopedia Tbk recorded a net profit of Rp441 billion in the third quarter of 2026, reversing a Rp255 billion loss a year earlier. Growth at its financial technology business GoPay helped offset profitability pressure at Gojek.
Group adjusted EBITDA rose 84 per cent year on year to Rp950 billion. The result included a full quarter under the 8 per cent commission cap for GoRide, Gojek’s two-wheeled transport service.
GoRide’s adjusted EBITDA was negative in July, but its performance subsequently improved towards break-even. GoPay, meanwhile, increased its contribution as use of digital financial services within the GoTo ecosystem grew.
GoTo widened the adjusted EBITDA guidance range for its on-demand services business, which includes Gojek, to Rp1.4–1.6 trillion from Rp1.4–1.5 trillion. The range allows for further regulatory developments, including rules governing delivery services.
The group also raised adjusted EBITDA guidance for its financial technology business to Rp1.9–2.0 trillion. Its group-wide guidance for 2026 increased to Rp3.5–3.7 trillion.
Leonardo Lijuwardi, an analyst at NH Korindo Sekuritas Indonesia, said GoTo had delivered net profits for three consecutive quarters. He said the performance of both Gojek and GoPay would determine whether the group could sustain its earnings momentum.
