Why Sea Limited Stock Jumped Today
Shares of Sea Limited (NYSE: SE) jumped 8.7% on Tuesday, following the release of the Singapore-based tech company's second-quarter results.
Sea's revenue soared 102% year over year to $882 million, fueled by broad-based growth across its online gaming, e-commerce, and digital payments businesses.
Notably, Sea's quarterly active users in its digital entertainment segment climbed 61% to 500 million, while its paying users surged 91% to 50 million. The gains were driven in part by the strong performance of Sea's self-developed megahit game, Free Fire, which hit a peak of over 100 million daily users and was the highest-grossing mobile game in Southeast Asia in the second quarter.
Source Fool.com
