Sea Limited reports recurring developments across its three core businesses: Garena in digital entertainment, Shopee in e-commerce, and Monee in digital financial services. News commonly covers quarterly and annual results, segment revenue, Shopee marketplace activity, value-added logistics services, Garena game performance, and Monee lending, payments and financial-services expansion.
Company updates also include actions tied to Sea's American depositary shares, such as share repurchase authorizations, as well as annual meeting materials and commercial activity on Shopee's marketplace and live-commerce ecosystem. Sea was founded in Singapore in 2009 and operates across Southeast Asia, Taiwan, Brazil and other markets where its consumer internet platforms serve shoppers, sellers, players and financial-services users.
Sea (NYSE: SE) has announced that it will release its second quarter 2024 financial results on August 13, 2024, before the U.S. market opens. The company will host a conference call and live webcast to discuss the results on the same day at 7:30 AM U.S. Eastern Time (7:30 PM Singapore/Hong Kong Time). Investors and analysts can access the webcast through the provided link. For those unable to attend the live event, a replay of the conference call will be available on Sea's investor relations website. This announcement provides an opportunity for stakeholders to gain insights into Sea 's financial performance and future outlook.
Sea (NYSE: SE) reported its financial results for Q1 2024, showing significant growth across all business segments. Total GAAP revenue increased by 22.8% year-on-year to $3.7 billion, with a gross profit of $1.6 billion, up 9.7% YoY.
E-commerce saw a 32.9% increase in revenue to $2.7 billion, with gross orders up 56.8% to 2.6 billion. Digital Financial Services revenue rose by 21.0% YoY to $499.4 million, with adjusted EBITDA up by 50.3% to $148.7 million. Digital Entertainment bookings grew by 10.8% YoY to $512.1 million, but GAAP revenue decreased by 15.1% to $458.1 million.
However, the company recorded a net loss of $23.0 million compared to a net income of $87.3 million in Q1 2023. Sales and marketing expenses surged by 92.3% to $769.6 million. Despite these challenges, Sea remains optimistic about its growth trajectory for 2024.
Sea (NYSE: SE) will release its first quarter 2024 results on May 14, 2024, before the U.S. market opens. The company's management will host a conference call to discuss the results, with a live webcast available on their website. A replay and archived webcast will also be accessible.
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