The e-commerce segment – which captures the performance of Shopee – saw a 134% y-o-y jump in revenue to US$1.45 billion, thanks to an 81% rise in gross merchandise value growth and a 7.1% increase in take-rate.
Internet company Sea Group has caught the attention of analysts following its 3Q2021 revenue of US$2.7 billion ($3.7 billion).
“This is 6.5% ahead of our expectations [and is] mainly due to stronger take-rate expansion of its e-commerce unit,” notes CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan.
