E-Commerce Growth Lifted This Tech Giant's Earnings, and Its Stock Jumped 12%

Key Takeaways A 40% jump in sales for Singapore's Shopee helped its parent Sea Limited post strong earnings. CEO Forrest Li said Shopee will become adjusted EBITDA-positive starting in the third quarter. Sea's gaming and financial services businesses also saw double-digit growth. The company's U.S.-traded shares jumped 12% on Tuesday, boosting its year-to-date gain to 85%. Shares of Sea Limited (SE), the Singapore tech conglomerate that runs online shopping website Shopee, soared Tuesday after the company r ...