Shopee owner Sea Limited Q1 revenue beats estimates but losses widen
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.
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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.
Shopee parent company Sea Group widens net losses to USD 1.46 billion in the year 2019 KrASIA
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.
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Sea's e-commerce business Shopee, which contributes about two-thirds to the group's top-line, grew about nearly 21% to $2.1 billion. It was below consensus estimate of $2.25 billion, despite Sea.
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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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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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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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For Shopee overall, adjusted EBITDA loss per order was US$0.45, compared to US$0.41 for the fourth quarter of 2020. This increase was attributable to the increasing contribution from the other.
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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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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.
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Shopee returned to a loss-making business. But this move is required to gain market share, especially as TikTok Shop was banned in Indonesia. In addition, unit economics in Brazil improved.
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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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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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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 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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Adjusted EBITDA losses for Shopee widened to US$253.7 million in the quarter compared to the US$214.9 million loss it recorded in the three months that ended September 30, 2018. Through the losses.
