The performance of GOTO stock is once again drawing investor attention after the company booked consecutive quarterly profits in 2026. Although fundamentals show improvement, the GOTO share price continues to trade around Rp50. 

This situation raises a new question in the market: does the current valuation still offer an investment opportunity, or does it instead reflect the challenges the company continues to face?

Key Takeaways

• GOTO posted net profit for two consecutive quarters in the first half of 2026.
• The fintech business is now the largest profit contributor and has surpassed the on-demand services segment.
• The share price remains around Rp50 because investors are still assessing the sustainability of profit growth and the company’s future business outlook.

GOTO Successfully Posts Consecutive Quarterly Profits

The first half of 2026 marked an important period for PT GoTo Gojek Tokopedia Tbk. The company booked net profit of approximately Rp423 billion, consisting of Rp171 billion in the first quarter and Rp252 billion in the second quarter. This was the first time GOTO recorded profit for two consecutive quarters since the company was established.

This growth was also supported by higher revenue. In the first half of 2026, the company’s revenue approached Rp11 trillion, an increase of around 28% compared with the same period the previous year. 

Meanwhile, second-quarter revenue reached approximately Rp5.7 trillion, or an increase of around 31% year-on-year. This information was reported by Investortrust and Kontan.

The improved performance indicates that the company’s operational efficiency strategy and business development efforts are beginning to deliver more consistent results. 

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Source: TradingView

Why Does the GOTO Share Price Remain at Rp50?

Although company profits have increased, share prices do not always move in line with financial reports in the short term. Investors typically consider various other factors before assigning a higher valuation.

One of the most closely watched factors is the sustainability of profits. The market wants to see whether the gains recorded in the first half of 2026 can be maintained in subsequent quarters, especially as the technology industry continues to face intense competition.

In addition, regulatory changes are also a point of concern. The government has implemented new rules regarding the commission structure for online transportation services that took effect in July 2026. 

The impact of these regulations is expected to affect the profitability of the on-demand services business, prompting the company to adjust the target contribution from each business segment.

On the other hand, stock valuation is also influenced by overall market sentiment, economic conditions, and investor expectations regarding the company’s growth over the next several years. Therefore, an increase in profit does not necessarily lead to an immediate rise in the share price.

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GOTO Stock Outlook After Posting Profit

One of the biggest changes in GOTO’s business is the shift in the company’s sources of growth. Whereas transportation and on-demand services were previously the main drivers, the fintech segment has now become the largest profit contributor.

Growth in services such as GoPay, digital payments, and financing has become the main driver of higher profits. According to Investortrust, the profitability of the fintech business has even surpassed that of the on-demand services segment for the first time.

In addition, several operational indicators also show positive trends. Annual Transacting Users (ATU) rose to around 71 million users, while Core Gross Transaction Value (Core GTV) grew significantly to approximately Rp164 trillion in the second quarter of 2026.

The company also recorded Group Adjusted EBITDA of more than Rp1 trillion in the second quarter, reflecting improved operational efficiency compared with the previous year.

At the same time, GOTO continues to maintain its Group Adjusted EBITDA target of Rp3.2 trillion to Rp3.4 trillion for the full year 2026. Nevertheless, the company has raised its projected contribution from the fintech business and adjusted targets for the on-demand services business following the regulatory changes.

For long-term investors, these developments can serve as a signal that GOTO’s business model transformation is beginning to produce tangible results. However, investment decisions still need to take into account market risks, valuation, and the company’s ability to maintain consistent profit growth.

Read Also: What Are HSC Stocks? Definition, Risks, and the Latest List of HSC Stocks

Conclusion

The first-half 2026 financial report shows that GOTO has entered a new phase by booking net profit for two consecutive quarters. Revenue growth, improved operational efficiency, and the contribution of the fintech business are the main factors strengthening the company’s fundamentals.

Nevertheless, the share price remaining around Rp50 indicates that investors are still waiting for evidence of the sustainability of this performance. 

If the company is able to maintain profit growth, strengthen its fintech business, and preserve profitability amid regulatory changes, the long-term outlook for GOTO stock has the potential to become increasingly attractive to watch.

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FAQ

Why is the GOTO share price still around Rp50 even though the company has posted profits?

Investors are still assessing whether those profits can be sustained over the long term. In addition, valuation factors, market sentiment, and regulatory changes also influence the movement of the share price.

How much profit did GOTO record in the first half of 2026?

GOTO booked net profit of approximately Rp423 billion, consisting of consecutive first- and second-quarter profits in 2026.

What has been the main driver of GOTO’s profit growth?

Growth in the fintech business, higher revenue, and operational efficiency have been the main factors supporting the company’s profit increase.

Is GOTO stock still worth buying?

Investment decisions depend on each investor’s risk profile and objectives. The company’s fundamentals have improved, but investors still need to consider valuation and long-term growth prospects.

What is the outlook for GOTO stock going forward?

The outlook depends on the company’s ability to maintain profitability, develop its fintech business, and navigate regulatory dynamics as well as competition in the technology industry.