The world’s hottest stock is up 9%! Sea’s revenue doubled year on year

The Singapore company, backed by Tencent, rose 9% on Tuesday after its financial report, nearly doubling its year-on-year revenue performance, providing more ammunition for investors to bet that the company may become the next Asian Internet giant. < / P > < p > in the three months to June, sea’s revenue increased 93.4% year-on-year to $882 million, mainly driven by the growth of e-commerce platform shopee and game subsidiary Garena. Although the company reported a net loss of more than 40 per cent to $393m, its share price recorded its biggest gain in a month, consolidating its position as the world’s best performing large cap stock in the past 18 months. < / P > < p > among them, Garena’s revenue increased from $229.5 million to $384 million, thanks to the popularity of free fire, the company’s first self-developed popular game. With up to 100 million daily active users, free fire is the best-selling mobile game in Latin America and Southeast Asia. According to app Annie quoted by sea, it ranked third in the world in terms of mobile game downloads in the second quarter of this year. < / P > < p > in addition, the revenue of shopee and other businesses of e-commerce increased from US $165.7 million to US $364.7 million. Seamoney, the company’s digital finance unit, also gained popularity, with mobile wallet payments totaling more than $1.6 billion and 15 million paid mobile wallet service users in the quarter. < / P > < p > shopee’s orders in Indonesia reached 260 million in the second quarter, with an average of more than 2.8 million orders per day, an increase of 130% over the same period last year. According to app Annie’s data, shopee also ranks first in Indonesia in terms of monthly live users, downloads and application usage duration among shopping Android apps. < / P > < p > sea, founded in May 2009 and headquartered in galaxy, Singapore, has developed into a comprehensive platform composed of digital entertainment, e-commerce and digital financial services, with the responsibility of improving the ecology of consumers and small and micro businesses in Southeast Asia through technology. Sea is a member of the Tencent family, with Tencent as its largest shareholder, holding about 20%. < / P > < p > in terms of stock price performance over the past 18 months, no US technology company can compete with sea. Sea’s share price has risen more than 880% since it was listed on the New York Stock Exchange in 2017, leaving apple, Tesla, Amazon, Facebook, etc. far behind, according to a report by Bloomberg. < / P > < p > in a conference call on Tuesday, Forrest Li, the company’s chief executive, said, “it makes us more convinced that the rapid shift to a digital lifestyle is actually a permanent and irreversible change, which will bring huge growth opportunities for sea in the long run.” < / P > < p > after its market value soared to US $65 billion, sea has won the title of the largest company in Southeast Asia. This company, which is still losing money, may one day become Tencent and Alibaba in Southeast Asia. This amazing rise has created three billionaires in its operation, and also caused people’s debate: this company integrates games, e-commerce and payment Will the company be the next Internet giant, or the first example of a technology bubble that is doomed to break? < / P > < p > since its IPO in New York in 2017, sea has been encouraging investors and analysts to focus on financial indicators that are inconsistent with generally accepted accounting principles or GAAP. Sea executives have said in the past that the company’s aim is to help investors assess its operating performance. In response to the SEC’s investigation, the company will stop reporting “adjusted” income and make other adjustments to its accounting methods, executives said on Tuesday. Xiaomi new machine real machine exposure center dig hole screen design or high color thousand yuan machine