Sea's Q3 loss outpaces topline growth; group raises full-year revenue guidance

Singapore

SINGAPORE-based Sea Ltd - which owns e-commerce platform Shopee and game developer Garena - on Tuesday posted a wider Q3 net loss of US$425.3 million, more than double the loss of US$206.1 million a year ago.

This was despite a 98.7 per cent growth in topline to US$1.2 billion for the three months ended Sept 30, 2020. Revenue fell short of street estimates - a Bloomberg poll of seven analysts had turned up a consensus of US$1.9 billion.