Singapore’s Sea posts $400m Q1 profit on strong e-commerce sales

Singapore's Sea posts $400m Q1 profit on strong e-commerce sales Singapore's Sea posts $400m Q1 profit on strong e-commerce sales

SINGAPORE — Singapore-based consumer tech group Sea on Tuesday posted a net profit of $403 million for the Janu to March quarter, reversing a net loss of $23 million in the same period last year, thanks to a record e-commerce performance and solid growth across its fintech and gaming divisions.

The New York-listed company’s revenue rose 29.6% to $4.84 billion, slightly missing the $4.89 billion average estimate compiled by the London Stock Exchange Group.