SITENAME Logo

SEA Group has profitable Q2; revenue rises to $1.29 billion.

Shopee continues rising.


SEA Group has profitable Q2; revenue rises to $1.29 billion.

SEA Group, the parent company of e-commerce platform, Shopee, and gaming publisher, Garena, has had a significant growth this second quarter.

In a statement by the company, revenues for Q2 2020 rose to US$1.29 billion, nearly doubling from the previous year's (93.4% year-on-year growth).

The company also had a profitable quarter, at $7.7 million EBITDA. The company had a $11 million loss during the same period last year.

Sea Ltd.'s management: (from left) Forrest Li, Chairman and Group CEO, Gang Ye, Group Chief Operating Officer and David Chen, Chief Product Officer, Shopee. (Source: SEA Ltd.)

The SouthEast Asian internet giant adds that much of its growth were attributed to the pandemic lock-downs, where online shopping and gaming rose significantly during this period.

The company has also expanded upon its financial services business, SeaMoney, with payment volumes for the company’s e-wallet exceeded US$1.6 billion across 15 million paying users for the quarter. 

ALSO MENTIONED IN THIS POST

SEA Group

A global consumer internet company

Industry:

Opportunities:


Shopee

Shopee is the leading eCommerce platform in Greater Southeast Asia.

Industry:


Have a company of your own? Create a company profile today and easily find customers, raise funds, or hire talent.

ABOUT ALFRED LEE

Journalist at BEAMSTART. I write about breaking business news in the region.

Get in Touch

Location

Malaysia

BEAMSTART is a global business community with the aim of connecting people to opportunities. Expand your network, discover new possibilities, and explore a vast database of resources that can help you go further in your business and career.

 

Download the App

Never miss an opportunity again. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

© 2016 - 2020 BEAMSTART. All Rights Reserved.