Total GAAP (or generally accepted accounting principles) revenue was up by 4.9% y-o-y to US$3.0 billion. Of its segments, revenues for e-commerce and digital financial services rose, offsetting the revenue decline in Sea’s Digital Entertainment segment.
Sea Limited has reported “another strong quarter” for the 1QFY2023 ended March, with total net income at US$87.3 million ($116.6 million) compared to a total net loss of US$580.1 million in the 1QFY2022.
The total net income was negatively impacted by US$117.9 million impairment of goodwill associated with the group’s prior acquisition, says Sea in its results.
