Sea's Q1 net loss rises 50% despite revenue climbing 147%
Operating costs more than doubles, with two-thirds from sales and marketing
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Singapore
SINGAPORE-BASED Sea Ltd, which owns e-commerce platform Shopee and game developer Garena, reported on Tuesday a net loss of US$422.1 million for the quarter ended March 31, 2021, up 50.3 per cent from a year earlier.
The higher loss came even as Q1 revenue more than doubled to US$1.76 billion in 2021, from US$714.9 million in the previous year.
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