SEA LTD-ADR

13 Aug

Singapore’s Sea Tops Profit Estimates on Online Shopping Growth

stp2y0 CommentsRAG modelsALIBABA GROUP HOLDING-SP ADR, artificial intelligence, BYTEDANCE LTD, E-commerce, Earnings, PDD HOLDINGS INC, SEA LTD-ADR, Singapore, Southeast Asia, Stock Futures, Technology

Sea Ltd. raised the outlook for its main online retailing arm, signaling the Southeast Asia e-commerce leader is effectively encountering intense competition from the likes of TikTok and Lazada.The value of goods sold by the Shopee division will rise in the “mid-20%” range this year, Sea said TuesdayBloomberg Terminal, rather than the “high teens” pace predicted in March. Singapore-based Sea also posted second-quarter profit and sales that topped analysts’ estimates. Source link lol

12 Aug

Sea Raises Sellers’ Fees to Above TikTok, Temu to Fatten Margins

stp2y0 CommentsRAG modelsBYTEDANCE LTD, E-commerce, Indonesia, JPMORGAN CHASE & CO, JULY SARL/CAEN, PDD HOLDINGS INC, Philippines, SEA LTD-ADR, Southeast Asia, Technology, Thailand

Sea Ltd.’s Shopee has raised the commissions it charges merchants in many core markets by about a third since the start of the year, underscoring the Southeast Asia e-commerce leader’s renewed attempt of boosting its bottom line.The moves, which haven’t previously been reported, reflect Sea’s growing confidence it can retain merchants in key markets, despite competition from TikTok, Temu and Lazada. Its commission now exceeds its rivals’, with its fee in Thailand rising to as much as 13% in July from 10% previously, according to its website. TikTok charges as much as 8% and Lazada up to 10%, according to…