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SEA Ltd gains another 9% after doubling revenue

Bloomberg
Bloomberg8/19/2020 09:27 AM GMT+08  • 3 min read
SEA Ltd gains another 9% after doubling revenue
Sea’s total revenue rose to US$882 million ($1.20 billion) in the three months ended June, driven by growth at e-commerce platform Shopee and gaming arm Garena.
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Sea Ltd. jumped 9% after reporting a doubling in revenue, providing more ammunition to investors betting the Singaporean company backed by Tencent Holdings Ltd. could become the next Asian internet colossus.

See also: At $65.5 bil, loss-making Sea overtakes DBS in market value and DBS and Sea: Two ends of a barbell?

Sea’s total revenue rose to US$882 million ($1.20 billion) in the three months ended June, driven by growth at e-commerce platform Shopee and gaming arm Garena. Its shares gained their most in a month even though it reported net losses widened more than 40% to US$393 million, cementing its position as the world’s best-performing large-cap stock over the past 18 months.

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