SouthEast Asia's Sea Group posted a loss of US$206 million in Q3.

Lower compared to the US$218 million loss it reported in the same period last year.

Ismawati Asmat

13 Nov, 2019

SouthEast Asia's Sea Group posted a loss of US$206 million in Q3. | BEAMSTART News

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The Q3 performance of the firm was weighed down by its e-commerce segment (Shopee), but was slightly offset by gains in its digital entertainment business.

Sea increased its expected adjusted revenue for digital entertainment to between US$1.7 billion and US$1.8 billion.

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Sea also plans to continue focusing on esports and community building activities, indicating that its largest global esports tournament for the mobile game Free Fire, the Free Fire World Series 2019, has achieved over 100 million cumulative online views to date.

Shopee makes up a large part of Sea Group's losses.

Through the losses, Sea claimed that Shopee registered over 138 million orders for the market in Indonesia (its biggest market) during the quarter, making it the leading e-commerce platform in the country by that metric.

For Shopee, it now expects to report adjusted revenue between US$880 million and US$920 million for the full year, up from its previous guidance of between US$780 million and US$820 million.

Sea posted revenue of US$610.1 million for the quarter, climbing from US$204.9 million during the same quarter a year ago.

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