E-commerce and credit business push Sea’s Q3 2022 revenue up 17.4%; 2022 guidance revised down

SEA Ltd reported a 17.4 per cent increase in Q3 2022 revenue to US$3.2 billion from US$2.7 billion a year prior. However, net loss worsened slightly by 0.3 per cent to US$571 million from US$569.3 million.

Revenue growth was driven mainly by the e-commerce and other services segment, which surged 50.9 per cent from US$1.3 billion to US$2 billion in Q3 2022. This was mainly driven by increased monetisation in the e-commerce business and growth in the credit business.

“Given the significant uncertainties in the macro environment, we have entirely shifted our mindset and focus from growth to achieving self-sufficiency and profitability as soon as possible, without relying on any external funding,” said Forrest Li, chairman and chief executive officer, Sea.