600 Million! Shopee Achieves Record Growth
Jayson 15 May 2024 10:43
Yesterday, Shopee parent company Sea Limited announced its financial results for the first quarter ended on March 31, 2024.
Data shows that during the financial reporting period, Shopee's total orders were 2.6 billion, a year-on-year increase of 56.8%; GMV was US$23.6 billion, a year-on-year increase of 36.3%, and revenue was US$2.7 billion, a year-on-year increase of 32.9%.
The financial report said this was Shopee's highest-ever quarterly orders, GMV and revenue.
"Shopee delivered strong growth this quarter, achieving its highest quarterly orders, GMV and revenue ever," said Forrest Li, Sea Chairman and CEO.
For Sea, total revenue for the quarter was US$3.7 billion, a year-on-year increase of 22.8%, and total gross profit was US$1.6 billion, a year-on-year increase of 9.7%. Net losses totaled $23 million, compared with net income totaling $87.3 million in the first quarter of 2023.
Data shows that during the financial reporting period, Shopee's total orders were 2.6 billion, a year-on-year increase of 56.8%; GMV was US$23.6 billion, a year-on-year increase of 36.3%, and revenue was US$2.7 billion, a year-on-year increase of 32.9%.
The financial report said this was Shopee's highest-ever quarterly orders, GMV and revenue.
"Shopee delivered strong growth this quarter, achieving its highest quarterly orders, GMV and revenue ever," said Forrest Li, Sea Chairman and CEO.
For Sea, total revenue for the quarter was US$3.7 billion, a year-on-year increase of 22.8%, and total gross profit was US$1.6 billion, a year-on-year increase of 9.7%. Net losses totaled $23 million, compared with net income totaling $87.3 million in the first quarter of 2023.
