Sea Group Reports Record Annual Profit as E-Commerce and Gaming Thrive

Singapore-based Sea Group achieves a $447.8 million profit for 2024, driven by Shopee's growth, AI investments, and expanding digital finance services.

• Sea Group posted its second consecutive annual profit in 2024, with net earnings of $447.8 million, a 175% increase from 2023.
• Shopee, Sea's e-commerce platform, saw a 28% rise in gross merchandise value to $100.5 billion, bolstered by AI-driven logistics improvements and increased advertising spending.
• The company's gaming division, Garena, reported $2.1 billion in bookings for 2024, reversing post-COVID declines with a 19% growth in user engagement.
• SeaMoney, the company's digital financial services arm, grew its revenue by 34.6% to $2.4 billion, expanding its presence across Southeast Asia, Taiwan, and Brazil.
• Sea's stock surged over 7% in New York trading, boosting the net worth of its billionaire founders by nearly $1 billion collectively.

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