By Chris Wack


Sea Ltd. shares were up 10% to $77.17 Tuesday after the company reported a first-quarter loss that was narrower than analysts expected.

The company said it had a quarterly loss of $580.1 million, or 80 cents a share, compared with a loss of $422.1 million, or 62 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $769 million, or $1.17 a share.

Revenue for the quarter came in at $2.9 billion, compared to last year's $1.76 billion and the $2.86 billion analysts were expecting.

The company said it is on track to achieve its previously shared projections for profitability in its Asia markets, while continuing to scale its businesses and capture market share globally.

Sea Ltd. also said it expects revenue for e-commerce to be $8.5 billion to $9.1 billion, representing 72% growth from 2021 at the midpoint of the broader guidance, compared with previous guidance of $8.9 billion to $9.1 billion.


Write to Chris Wack at chris.wack@wsj.com


(END) Dow Jones Newswires

05-17-22 1110ET