GoTo Shares Have Biggest Jump in Four Months on First Net Income

GoTo Group shares jumped after the Indonesian ride-hailing and food delivery company reported its first-ever net income, a major milestone in its turnaround effort.

The stock rose as much as 9.4% in Jakarta for its biggest intraday gain since December. Net income was 257 billion rupiah ($15 million) for the three months through March, after a loss of 283 billion rupiah a year earlier, GoTo said Tuesday.