Earnings and Results

GoTo’s fintech division shines in Q4, turns EBITDA positive a year early

The success was driven by the GoPay app and the expansion of consumer loan offerings.

China’s e-commerce leaders such as JD.com and Alibaba have slashed prices to lure shoppers.

For full-year 2024, bookings were up 12.1% to $314m.

In Q4 2024, net income stood at $237.6m, reversing a net loss of $111.6m a year ago.

Its AUM reached a record $206.5 billion at the end of December.

Profit attributable to shareholders rose to $1.68b last year.

Net profit was down almost 40% at $1 billion in 2024, FT reported.

Alibaba’s domestic e-commerce business Taobao and Tmall Group posted a 5% revenue growth in Q3.

The results underscore the rising significance of Manulife’s asset and wealth management unit.

In 2024, Grab reported a loss of $158m, a 67% improvement from a year earlier.