Singapore’s SEA doubles revenue as tech battle grows


Shopee ranked first in the shopping category in Southeast Asia and Taiwan by average monthly active users and total time spent in app among Android users for the first quarter, Sea said, citing App Annie.

SINGAPORE: SEA Ltd., Southeast Asia’s most valuable company, more than doubled revenue in the first quarter, though losses swelled as it spent to ward off competition in the regional e-commerce and online entertainment arenas.

Sales rose to $1.76 billion in the three months ended March from $714.9 million a year earlier, the Singapore-based company said in a statement on Tuesday. Net loss widened to $422.7 million from $281.5 million.

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Nestcon secures two large-scale solar projects in Sabah
Batik Air expands with new Beijing and Changsha routes from March 2025
Rise in oil prices lifts ringgit higher at close
Pan Merchant Bhd eyes ACE Market listing
BHIC disposes of stake in CAD to German company for RM54mil
iCents Group seeks ACE Market listing
Starbucks strike to expand to over 300 US stores on Christmas Eve, union says
FBM KLCI climbs back above 1,600 points on Christmas boost
PNB remains optimistic about Malaysian economy, FBM KLCI next year
Oil prices rise in thin pre-Christmas trade

Others Also Read