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Sea misses profit estimates, turnaround still fragile
Revenue grew just 5%
May 17, 2023
Company in the news
Sea’s path to profit paved with layoffs, single-ply toilet paper
Just over a year ago, Forrest Li was laid up in bed with Covid, fretting about the future of his company, Sea Ltd.
May 16, 2023
Company in the news
Sea CEO declares 5% raises after turning profitable
Workers who joined on or before March 31 will get the salary bump effective this July, Li said in a memo to Sea's staff on Monday.
May 08, 2023
Company in the news
Sea's CEO tells staff that the worst is over after first-ever quarterly net profit
In his 700-word memo, Li also warned that the company still needs to prove that it can sustain a profit.
March 20, 2023
Results
Sea reports first profit after e-commerce holds up
Sea cut US$700 million from its quarterly sales and marketing expenses.
March 07, 2023
Tech
Singapore's Sea freezes salaries, cuts bonuses as tougher 2023 looms
Sea Ltd. fell more than 4% after founder Forrest Li announced it was freezing salaries for most staff and paying out lower bonuses
December 23, 2022
Results
Sea reports net loss of US$569.3 mil for 3QFY2022, down 0.3% y-o-y
Sea’s chairman and group CEO Li says the company is seeking to achieve “self-sufficiency and profitability as soon as possible”.
November 16, 2022
Company in the news
Sea's billionaire CEO to forgo salary as cost cuts spread
The company will also cap spending on business travels as well as cull reimbursement for meals and entertainment bills.
September 15, 2022
Company in the news
Sea's stock plunge adds to Forrest Li's US$17 bil wealth drop from peak
Once Southeast Asia’s most-valuable company, Sea’s shares have now fallen almost 80% since peaking in October.
August 17, 2022
Results
Sea reports 17.5% deeper net loss of US$616.3 mil in 4QFY2021
Looking ahead, Sea's Forrest Li says he expects SeaMoney to achieve positive cashflow by 2023.
March 01, 2022