default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Shopee-Owner Sea Tops Revenue Estimates on E-Commerce Strength

Shopee.
Shopee-owner Sea beat first-quarter revenue estimates on Tuesday. (Shutterstock)

Singapore-based Sea Ltd beat first-quarter revenue estimates on Tuesday, driven by improvements in its core e-commerce business in South East Asia and Latin America, sending its shares up 2.8 percent.

The New York-listed company said total revenue in the first quarter of 2022 rose 64.4 percent to $2.9 billion, above analysts’ estimate of $2.76 billion, according to Refinitiv IBES data.

Sea, which saw a meteoric rise in business in 2020 and into 2021, has been realigning its business in the international markets following slowing sales and regulatory challenges.

The company widened its full-year 2022 e-commerce revenue outlook range to between $8.5 billion and $9.1 billion, compared with $8.9 billion to $9.1 billion forecast earlier.

By Yuvraj Malik; Editor: Vinay Dwivedi

Learn more:

Shopee Owner Looking to Raise $6.3 Billion in Southeast Asia’s Biggest Fundraising

The company is looking to amp up its global expansion by testing out new markets.

In This Article
Organisations

© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Global Markets
A guide to unlocking opportunity in emerging and frontier fashion markets.


BoF sits down with Zainab Abdulrazzaq, founder of 3oud.com and organiser of the Oud Fashion Talks, to discover the next steps for the event, designed to cement Kuwait’s place on the international fashion map.



view more

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
How to Build a Profitable DTC Brand
© 2023 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
How to Build a Profitable DTC Brand