Sea Limited Rises 5% In Pre-Market As Revenue Increase Above View

(RTTNews) - Shares of Sea Limited (SE), a Singapore-based consumer internet company, were rising more than 5 percent in pre-market on Tuesday to $67.90, after reporting improved revenue for the first quarter, above analysts' view.

The company posted revenue of $3.734 billion, up 22.8 percent from $3.041 billion last year, primarily helped by growth in e-commerce revenue. The consensus estimate of 10 analysts polled by Thomson-Reuters was $3.56 billion.

E-commerce and other services revenue increased 30.6 percent year on year to $2.950 billion.

Sea Limited reported net loss of $23.66 million or $0.04 per share for the first quarter, compared with profit of $88.08 million or $0.15 per share in the same quarter a year ago, primarily due to higher expenses. Analysts were expecting loss of $0.02 per share.

The company's shares had closed at $64.46, down 0.69 percent on Monday. The stock has been trading in the range of $34.35 - $79.57 in the last 1 year.