Sea Limited's net income more than doubles to $488.5m in Q3

Revenue also soared by 39.8% YoY to $7.82b.

Sea Limited reported a net income of $488.54m (US$375m) during the third quarter of the year, representing a 144.6% year-on-year (YoY) jump, according to the group’s unaudited financial statement.

Revenue also soared by 39.8% YoY to $7.82b (US$6b) whilst adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached $1.14b (US$874.3m), up by 67.7% YoY.

The E-commerce segment, Shopee, recorded 3.6 billion gross orders, a 28.4% YoY increase, and Gross Merchandise Value (GMV) of $41.95b (US$32.2b).

Meanwhile, Digital Financial Services reported a revenue of $1.29b (US$989.9m), up 60.8% YoY.

For the Digital Entertainment segment, Garena, saw bookings of $1.1b (US$840.7 million), up 51.1% YoY. GAAP revenue was $850.72m (US$653.0 million), rising 31.2% YoY.

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