Stock Track | Sea Ltd Soars 5.25% on Strong Gaming Performance and Revenue Growth

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Sea Ltd (SE), a Singapore-based tech conglomerate, saw its stock price surge by 5.25% on October 11, 2024. This impressive gain can be attributed to the company's robust performance in the gaming division and overall revenue growth.

The company's gaming arm, Garena, reported over 20% year-over-year growth in bookings for the second quarter of 2024, primarily driven by the massive success of its popular mobile game Free Fire. Remarkably, Free Fire had over 100 million daily active users during the quarter, showcasing its immense user base and engagement levels.

Additionally, Sea Ltd is poised to further expand its gaming offerings with the upcoming launch of Need for Speed: Mobile in Taiwan, Hong Kong, and Macau. This collaboration with Tencent and Electronic Arts is expected to bring a high-quality gaming experience with a classic IP to Sea Ltd's dedicated gamer community, further enhancing user engagement and revenue streams.

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