Once could be a fluke, twice may be luck, perhaps the third time it is a pattern. This is the third consecutive quarter where Sea Limited has delivered outstanding results. I'm particularly impressed by its ecommerce arm - Shopee - which is cementing its dominant position in South East Asia. In my report Sea Limited: Profitable Growth Arc, I noted:
"While Shopee's margins are currently thin, they will likely increase over time as competition further rationalizes and the e-commerce platform raises take rates through a combination of increased commissions and advertising revenue."
The Q4 2024 ...
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