Forrest Li, Sea’s CEO, stated that the performance of the past quarter remains robust, enhancing profitability capabilities. Coupled with the economic impacts of the previous years, he is confident the company has adapted and navigated through this period successfully.
Shopee continues to set records in revenue, order volume, and total order value, achieving all-time highs in the last quarter. Part of this success can be attributed to the development of the SPX Express shipping system to support e-commerce services. Key figures include:
– Order volume of 2.6 billion orders, a 56.8% increase.
– Gross Merchandise Value (GMV) of 23.6 billion dollars, up by 36.3%.
– Revenue of 2,950 million dollars, a growth of 30.6%.
– EBITDA in Asia at 11.5 million dollars, while overall markets incurred a loss of 21.7 million dollars, with Brazil as a new market focusing on losses of 0.04 dollars per order.
SeaMoney posted a profit of 148.7 million dollars in its business segment, and Garena saw renewed growth driven by the popularity of Free Fire. In-game bookings and payments from Free Fire contributed to a revenue increase of 10.8%, reaching 512.1 million dollars.
TLDR: Sea’s CEO is confident in the company’s performance, with Shopee achieving record highs in revenue and order volume. SeaMoney and Garena also saw growth, attributing success to initiatives like the SPX Express shipping system and the popularity of Free Fire.
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