Sea's FY2021 losses widen to US$1.5b, revenue up 127.5%
E-commerce gross orders grow 116.5% y-o-y totalling US$6.1b; gross merchandise value jumps 76.8% to US$62.5b
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Singapore
SINGAPORE-BASED Sea, which owns e-commerce platform Shopee and games developer Garena, widened its net loss excluding share-based compensation attributable to ordinary shareholders of US$1.5 billion for FY2021 ending Dec 31, up 17.9 per cent from US$1.3 billion a year prior.
In a filing on Tuesday (Mar 1), the New York Stock Exchange-listed company reported a 127.5 per cent increase in FY2021 revenue from US$4.4 billion to US$9.9 billion. The increase is driven by growth across all business segments.
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