Sea Ltd., a Singapore-based technology company, reported substantial growth in 2024, with a 162% increase in its stock value following a challenging 2023.

The company’s ecommerce platform, Shopee, continues to lead in Southeast Asia’s competitive market, aided by enhanced profitability and accelerated sales growth.

In its third-quarter results for 2024, Sea reported earnings of US$0.24 per share, a recovery from a loss of US$0.26 per share during the same period last year.

Revenue rose by 31% year-on-year to US$4.3 billion, indicating its fastest growth since early 2022.

Ecommerce revenue grew by 41% to US$3.2 billion, with Shopee reporting adjusted EBITDA of US$34 million, a notable improvement from a US$346 million loss in 2023.

Recent Sea developments