- Sea Limited (NYSE:SE) is up 10.1% in NYSE trading following Q1 earnings where it added new growth in its gaming unit and exponentially increased its e-commerce wing.
- Digital Entertainment adjusted revenues grew 42.6% and EBITDA rose 48.6% to $55M. Quarterly active users hit 126.7M, up 125% Y/Y and up 44.3% Q/Q. Average revenue per users was $1.2, vs. a year-ago $1.8.
- In E-commerce, gross merchandise value was $1.9B, a tripling of last year's total and up 23% Q/Q. Gross orders were up 217% to 111.4M. EBITDA, though, was -$179.6M vs. a year-ago -$62.7M.
- Revenue by segment: Digital Entertainment, $110.7M (up 26.3%); E-commerce, $27.3M (up from $34,000); Digital Financial Services, $3.7M (up 81.9%).
- The company boosted full-year revenue guidance to $780M-$820M (40.9%-48.1% growth Y/Y) from a previous range of $730M-$770M. It also sees e-commerce GMV at $8.2B-$8.7B, up from $7.5B-$8B.
- Press release
- Now read: Sea Could Sink When IPO Lockup Expires
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