Shopee-owner Sea beats revenue estimates on online shopping surge (updated)

Sea

13/08/2024 11:40

(Adds e-commerce revenue, board changes)
       Aug 13 (Reuters) - Southeast Asian technology firm Sea
Ltd  SE.N  beat estimates for second-quarter revenue on Tuesday,
driven by strong growth in its e-commerce and financial services
businesses.
    The company also said CFO Tony Hou had stepped down from its
board of directors.
    Revenue rose 23% to $3.81 billion, compared with analysts'
consensus estimate of $3.71 billion, according to LSEG.
    E-commerce revenue, which makes up about two-thirds of the
company's total, grew 34% to $2.8 billion, also above
expectations of $2.68 billion.
        
  
        
  

 (Reporting by Yuvraj Malik in Bengaluru; Editing by Devika
Syamnath)
 ((yuvraj.malik@tr.com; @elnovw on X;))