Sea Limited Posts Wider Loss In Q1, Revenue Up 64.4%; Revises FY22 E-commerce Revenue Guidance

(RTTNews) - Sea Limited (SE) reported a first quarter loss per share, excluding share-based compensation, of $0.80 compared to a loss of $0.62, last year. Total net loss excluding share-based compensation was $445.1 million compared to a loss of $320.0 million, prior year.

Net loss was $580.1 million compared to a loss of $422.1 million, last year. Loss per share was $1.04 compared to a loss of $0.82.

Total GAAP revenue increased by 64.4% to $2.9 billion from $1.8 billion, last year. Digital Entertainment revenue increased by 45.3% to $1.1 billion. E-commerce and other services revenue increased by 94.2% to $1.5 billion.

For fiscal 2022, the company now expects GAAP revenue for e-commerce to be between $8.5 billion and $9.1 billion, compared to the previous guidance of between $8.9 billion and $9.1 billion.