Shopee owner Sea Limited Q1 revenue beats estimates but losses widen

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Shopee was expected to grow by 76 per cent this year - it's not certain how badly the exit from India will affect these projections. Optimistic projections must have taken considerable growth in terms of both users / downloads and orders there, so we can expect a correction next quarter. Projections for 2022.

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Sea Ltd. (NYSE:SE) was upgraded by Citi on Thursday as the investment firm believes losses for its Shopee e-commerce unit could improve in short order. Shares of the Singapore-based tech.

Shopee owner Sea Limited Q1 revenue beats estimates but losses widen

The company revised its full-year revenue guidance for Shopee to between $8.5 billion and $9.1 billion, citing "elevated macro uncertainties.". Sea's chief corporate officer Yanjun Wang.

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Amid these growing losses, Sea Limited revised and then dropped its ecommerce revenue guidance for the year. In the fourth quarter of 2021, Shopee expected ecommerce revenue in 2022 to fall.

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Sea also stopped disclosing Shopee's total adjusted EBITDA loss per order (including HQ costs) in the first quarter, which had previously widened by four cents year-over-year to $0.45 in the.

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Sea Limited's sales were short of forecasts, and the e-commerce and gaming site warned of future losses because of new spending. Sales at its key Shopee retail site missed estimates. CEO Forrest.

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Sea Limited, owner of Southeast Asia's biggest e-commerce platform Shopee, recorded wider losses amid a myriad of market challenges. Its stock has slumped as Tencent Holdings sold, while big.

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Sea's investments in e-commerce unit Shopee, the reason it posted a loss after three profit-making quarters, may intensify and extend its net loss to 4Q. Marketing costs surged 12.4% year over year in 3Q, after declining for a fourth consecutive quarter in 2Q, vs. single-digit growth in gross merchandise value and revenue.

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It posted losses even as revenues from Shopee and other units posted stronger revenues. Sea's e-commerce revenues grew 51% in the second quarter at $1.7 billion. Its best-performing markets were.

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Shopee. (Shutterstock) By. Zoe Suen. 18 May 2021. Singapore's Sea Group, which owns e-tailer Shopee, today reported that its net loss for the three months ended in March widened to $422 million from $281 million last year, Nikkei Asia writes. The New York-listed company, which operates businesses spanning e-commerce, online gaming, food.

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Aug 17, 2022, 7:20 AM SGT. SINGAPORE (BLOOMBERG) - Shopee owner Sea posted a bigger second-quarter loss than expected and withdrew its 2022 e-commerce forecast, joining other online giants.

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Shopee booked a loss of US$303.7 million in Q4 2023, a reversal from a profit of US$109.5 million in the corresponding year-ago period. Quarter on quarter, losses narrowed from US$428.2 million in.

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Net loss, however, widened to $580.1 million from $422.1 million. Excluding items, the company reported a loss per share of $1.04, compared with analysts' average estimate of a $1.23 loss.

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Sea Ltd. —controlled by billionaire Forrest Li —sank deeper into the red in the first quarter as losses at its e-commerce platform Shopee widened and expenses surged. The Singapore-based e.

Shopee Owner Sea Misses Estimates and Warns of Future Losses With Plans to Raise Spending

Revenue from its e-commerce business Shopee, which contributes about two-thirds of the company's top line, increased by 16.2% year-over-year to $2.2 billion, its slowest growth rate to date.

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Shopee reported a loss of $931.2 million in the second quarter of 2022, widening significantly from a net loss of $433.7 million in the second quarter of 2021, according to Sea Limited's financial.