Sea beats quarterly revenue estimates on e-commerce strength
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Singapore’s Sea Ltdexceeded Wall Street's third-quarter revenue expectations, reporting $5.99 billion against estimates of $5.65 billion. The e-commerce platform, Shopee, generated $4.3 billion in revenue, surpassing the $3.99 billion forecast. Strong discretionary spending, discounts, and shipping improvements contributed to this success, despite competition from TikTok Shop and Alibaba. Sea's financial incentives, including cashback and buy now-pay later options, have attracted cautious consumers amid economic uncertainty.
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