Shopee-Owner Sea Quarterly Revenue Jumps on Steady Ecommerce Demand
May 13 (Reuters) - Southeast Asian technology firm Sea Ltd on Tuesday reported a 30% surge in its first-quarter revenue, helped by steady growth in its e-commerce, entertainment and financial services businesses, sending its shares up 8.9% in premarket trading.
Purchases on Sea's e-commerce platform, Shopee — available across various Southeast Asian countries and Taiwan — surged ahead of the summer holiday and travel season.
The platform, which is a market leader in Indonesia, has attracted a large user base and become a significant growth driver for its parent company.
Shopee also offers diverse product categories, integrated digital payments, and interactive features like live streaming and in-app games.
The company's revenue rose 29.6% to $4.84 billion for the January to March period, compared with analysts' average estimate of $4.89 billion, according to data compiled by LSEG.
Sea's e-commerce segment, which accounts for more than two-thirds of the company's total business, reported a 28.3% jump in revenue in the first-quarter.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10