Sea posts US$79.9 million Q2 profit, beating estimates

GAMING and e-commerce player Sea on Tuesday (Aug 13) posted a net profit of US$79.9 million for the three months ended Jun 30, down 75.9 per cent from US$331 million in the corresponding year-ago Q2 period.

Despite the decline, the figure was still higher than the US$60 million estimate in a Bloomberg poll of 12 analysts. It was also a return to profit on a quarterly basis, as the group had posted a net loss of US$23 million in Q1 FY2024.

Revenue for the second quarter was US$3.8 billion, rising 23 per cent from US$3.1 billion in the corresponding year-ago period. The figure also beat estimates of US$3.7 billion in a 15-analyst poll by Bloomberg.