Sea beats revenue estimates as Shopee turns profitable, shares jump

Quick Summary:

:South East Asian technology firm Sea Ltd beat third-quarter revenue estimates on Tuesday and said its e-commerce business, Shopee, turned profitable, sending its shares up more than 17 per cent in early trading.

To beat competition, the company has diversified into digital finances and entertainment to tap into growing demand for such services.

"As we continue to focus on delivering growth, we expect Shopee to remain profitable going forward," Li added.

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Article Details

Category: EconomyBusiness

Markets: SingaporeBrazilIndiaTaiwan

Topics: Reported Billion Revenue Asia Southeast Business E-commerce Quarter Growth Cent Shopee

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 19:34:37 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 385 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23555281

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 49 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2 hours ago

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Publisher ID: #27

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