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Sea's game revenue tops estimates, offsetting e-commerce slowdown

Bloomberg
Bloomberg5/17/2022 9:9 PM GMT+08  • 2 min read
Sea's game revenue tops estimates, offsetting e-commerce slowdown
Sea's shares have tumbled 81% since its peak last October / Bloomberg
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Sea’s core gaming revenue grew faster than expected in the first quarter, offsetting a slowdown across the rest of the Southeast Asian internet giant’s business as online activity retreats from pandemic-era heights.

Sea’s gaming arm, its most profitable division, posted sales of US$1.14 billion, versus projections for less than US$930 million. Its shares climbed more than 10% in trading before US exchanges opened.

The Singaporean company’s large e-commerce business however underperformed. Consumers emerging from prolonged lockdowns are cutting back on online purchases, especially with the war in Ukraine and rising interest rates clouding the global economic outlook.

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