Jakarta. Technology company GoTo Gojek Tokopedia (GOTO) reported a net profit of Rp 441 billion ($24.3 million) in the third quarter of 2026, reversing a Rp 255 billion loss a year earlier and marking its third consecutive profitable quarter.

The company also recorded operating profit of Rp 351 billion during the July-September period, according to its financial results released Thursday.

GoTo's net revenue rose 17% year-on-year to Rp 5.6 trillion, while core gross transaction value (GTV) surged 89% to Rp 194 trillion.

The number of annual transacting users increased 16% to 72.5 million, reflecting continued growth across the company's digital services.

GoTo's principal businesses now comprise on-demand services, including ride-hailing, and financial technology operations centered on its GoPay digital payments platform, following ByteDance's acquisition of a controlling stake in e-commerce platform Tokopedia.

GoTo President Director Hans Patuwo said the company delivered the results despite operational challenges, including changes to commission arrangements for motorcycle ride-hailing services.

"These results were achieved amid various challenges over the past several months. This was the first full quarter since the 8% commission was introduced for GoRide services, and the impact has been quite significant," Hans said.

He was referring to the commission rate applied to GoRide services, which the company said had affected its on-demand business.

GoTo Raises Full-Year Earnings Target
Following the stronger quarterly performance, GoTo raised its 2026 adjusted group earnings before interest, taxes, depreciation and amortization (EBITDA) target to Rp 3.7 trillion, up from its previous projection of Rp 3.4 trillion.

The revised outlook is up Rp 300 billion, or about 8.8%, from the earlier target.

The company attributed the improved outlook to its financial technology business, which continued to outperform expectations, and renewed growth in its on-demand services segment.

The higher guidance signals management's confidence in GoTo's ability to sustain its improving financial performance through the remainder of the year.

Share Buyback Continues
GoTo also disclosed that shareholders had approved the cancellation of 32 billion treasury shares, equivalent to approximately 2.7% of its outstanding share capital, according to the company's statement.

As of Oct. 29, GoTo had spent Rp 985 billion repurchasing 36 billion shares, representing nearly 3% of its total shares.

The company said it still had Rp 2.5 trillion available for additional share repurchases under an authorization valid until June 2027.

"We are also continuing to repurchase the company's shares because we believe GoTo's stock currently offers attractive value," Hans said.

The planned cancellation of treasury shares and the continuing buyback program form part of GoTo's efforts to manage its capital structure while maintaining its focus on profitability and business growth.

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