GoTo Group reported a narrower quarterly loss after the Indonesian company handed its e-commerce business over to TikTok to shave costs and focus on its main ride-hailing service.
The company, which competes with Singapore’s Grab Holdings Ltd. in ride-hailing and food delivery, reported a 48 billion rupiah ($2.9 million) adjusted loss before interest, taxes, depreciation and amortization for the three months through June. That compares with a pro-forma loss of 885 billion rupiah a year earlier.
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