Shopee-owner Sea beats revenue estimates on online shopping surge

Southeast Asian technology firm Sea Ltd beat estimates for second-quarter revenue on Tuesday, driven by strong growth in its e-commerce and financial services businesses.
The company also said CFO Tony Hou had stepped down from its board of directors.
Revenue rose 23 per cent to $3.81 billion, compared with analysts’ consensus estimate of $3.71 billion, according to LSEG.
E-commerce revenue, which makes up about two-thirds of the company’s total, grew 34 per cent to $2.8 billion, also above expectations of $2.68 billion.