A Sea Limited, parent company of Shopee, announced impressive financial results for the fourth quarter of 2024 and for the full year, highlighting robust growth in its revenues and achieving profit in a challenging period for the technology and e-commerce sector. Reported the website Época Negócios
In the fourth quarter of 2024, Sea Limited reported a net profit of US$ 422,8 million, reversing a loss of US$ 616,3 million in the same period of the previous year. This result marks a significant turning point for the company, that had been facing financial challenges amid aggressive expansion and rising operational costs
For the year 2024, Sea Limited saw its revenues increase by 36,9%, totaling US$ 13,6 billion. This growth was mainly driven by the strong performance of its core business units, including Shopee, що продовжує розширювати свою присутність в нових ринках і консолідувати свою позицію в більш зрілих ринках
Performance of Shopee
А Shopee, e-commerce platform of Sea Limited, played a crucial role in the company's positive results. The platform recorded a significant increase in gross merchandise volume (GMV), that reached US$ 62,5 billion, a growth of 32,5% compared to the previous year. This robust performance reflects Shopee's successful strategy of focusing on high-growth markets and expanding its user base
Sea Limited attributes its success to several growth strategies, including the diversification of its revenue sources and expansion into new markets. The company also invested in technology and innovation to improve user experience and increase operational efficiency. Furthermore, Sea Limited continued to strengthen its partnerships with sellers and brands, offering a wider range of products and services to consumers
The CEO of Sea Limited, Forrest Li, expressed optimism regarding the company's prospects for 2025. He emphasized that Sea Limited will continue to invest in strategic areas to sustain its growth and improve its profitability. "We are confident that our ongoing initiatives in innovation and expansion will allow us to capture more market opportunities and deliver sustainable value to our shareholders", Li stated
Despite the positive results, Sea Limited faces significant challenges, including the intensification of competition in the e-commerce sector and global economic uncertainties. However, the company is well positioned to capitalize on growth opportunities, especially in emerging markets where e-commerce penetration is still relatively low
