Sea Sales Top Estimates as Online Shoppers Keep Spending
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Sea Ltd. second-quarter sales beat analysts' estimates as more of Southeast Asia's consumers turn to online shopping for anything from iPhones to daily groceries.
The stock climbed 8% in pre-market trading after Sea said revenue rose 38% to a record $5.26 billion in the three months through June. Analysts estimated $5 billion on average. Net income jumped to $414.2 million from $79.9 million a year earlier, but fell short of the $444 million analysts predicted.
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