Sea's Q3 revenue exceeded expectations, with strong growth in its e-commerce business.

Southeast Asian technology company Sea Ltd (SE.US) reported revenue exceeding expectations in the third quarter, benefiting from significant growth in its e-commerce, entertainment, and financial services businesses. As consumers prepare for the holiday and travel season, Sea's e-commerce platform Shopee saw a surge in purchases in Southeast Asia and Taiwan. The company also expanded its digital financial and entertainment businesses to meet the increasing service demands in the region. According to the financial report, Sea's revenue grew by 30.8% in the third quarter, reaching $4.33 billion, exceeding analysts' expectations of $4.08 billion. E-commerce revenue grew by 42.6% to $3.18 billion, digital entertainment revenue was $497.8 million, and digital financial services revenue was $615.7 million, all surpassing expectations. Sea reported a net profit of $153 million in the third quarter, compared to a net loss of $144 million in the same period last year; earnings per share (EPS) were $0.24, in line with analysts' expectations. Total orders in the third quarter for Sea increased by 24.2% to $28 billion. Sea reported adjusted EBITDA of $521.3 million, far exceeding analysts' expectations of $480.9 million. Sea Chairman and CEO Forrest Li stated, "This was another robust quarter, with all three of our businesses delivering high growth." He further noted that Shopee is expected to achieve a 25% year-over-year growth in GMV and emphasized, "We have improved profitability while restoring strong growth." This quarter, Shopee achieved positive adjusted EBITDA in Asia and Brazil. As we continue to focus on growth, we expect Shopee to continue to be profitable in the future." On the news, the Singapore-based company's stock listed in the US rose over 6% in pre-market trading.