Re: Sea Ltd SE (former Garena)
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SEA's 3Q Losses widen to US$133m on higher costs and expenses
Source: The Edge
https://www.theedgesingapore.com/seas-3 ... 0-87358173
Source: The Edge
https://www.theedgesingapore.com/seas-3 ... 0-87358173
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The mobile gaming company forecast US$2.9 billion to US$3.1 billion in bookings at its digital gaming arm, set to be its first decline ever. That compares with last year’s bookings of US$4.6 billion.
New Delhi abruptly banned its most popular mobile gaming title.
Focusing on e-commerce revenue growth - Southeast Asia, Brazil and Taiwan.
Expects e-commerce sales to rise to US$8.9 billion to US$9.1 billion in 2022, from US$5.1 billion in 2021.
Its e-commerce outlook was "solidly ahead" of expectations.
Gaming is legacy for the company, and its future is in e-commerce and fintech.
India banned FF. About 10% of Indian Revenue. Will they also ban Shoppee?
Tencent Selling from 20%.
Sea lost three-quarters of its value in five months.