Sea soared over 15% in morning trading as it topped revenue estimates on e-commerce strength.
Sea Limited (NYSE:SE) reported first-quarter FY22 revenue growth of 64.4% year-on-year to $2.9 billion, beating the consensus of $2.8 billion.
Digital Entertainment revenue increased 45.3% Y/Y to $1.1 billion, and bookings were $0.8 billion versus $1.1 billion a year ago. The segment adjusted EBITDA was $431.4 million, compared to $717.3 million a year ago.
Quarterly active users were 615.9 million, compared to 648.8 million a year ago.
Average bookings per user were $1.3 versus $1.7 a year ago.
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