E-Commerce Growth Lifted This Tech Giant's Earnings, and Its Stock Jumped 12%
SESea(SE) Investopedia·2024-08-14 06:57

Key TakeawaysA 40% jump in sales for Singapore's Shopee helped its parent Sea Limited post strong earnings.CEO Forrest Li said Shopee will become adjusted EBITDA-positive starting in the third quarter.Sea's gaming and financial services businesses also saw double-digit growth.The company's U.S.-traded shares jumped 12% on Tuesday, boosting its year-to-date gain to 85%. Shares of Sea Limited (SE), the Singapore tech conglomerate that runs online shopping website Shopee, soared Tuesday after the company repor ...