Singapore’s Sea Ltd shares slid 4.3% in U.S. trading. The stock is still up more than 300% for the year. - Bloomberg/ANN
SINGAPORE: Sea Ltd., Southeast Asia’s most valuable company, tumbled after reporting third-quarter financial results that showed signs of a slowdown in e-commerce growth.
The Singapore-based company’s revenue doubled to $1.2 billion for the quarter and it boosted annual forecasts for two key businesses. But net losses also doubled to $419.9 million and quarter-on-quarter growth in e-commerce gross merchandise value dropped to 16%, from 29% in the second quarter.
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