(Reuters) -Southeast Asian technology firm Sea Ltd beat estimates for third-quarter revenue on Tuesday, helped by steady growth in its e-commerce, entertainment and financial services businesses.
U.S.-listed shares of the Singapore-based company rose nearly 4% in premarket trading.
Sea’s e-commerce platform, Shopee, saw growth in purchases across Southeast Asia and Taiwan as consumers prepared for the upcoming holiday and travel season.
The company has also diversified into digital finances and entertainment, aiming to tap into growing demand for such services in the region.
Its revenue rose 30.8% to $4.33 billion in the third quarter, above analysts’ consensus estimate of $4.08 billion, according to data compiled by LSEG.
E-commerce revenue, which makes up more than two-thirds of the company’s total business, grew 42.6% to $3.2 billion in the quarter ended Sept. 30, compared with expectations of $2.92 billion, according to data compiled by LSEG.
The segment’s gross orders in the third quarter grew 24.2% to 2.8 billion.
(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)
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