SINGAPORE -- Singapore-based online gaming and e-commerce group Sea is turning its focus to improving profitability after growing rapidly over the past year, thanks to strong demand due to COVID-induced stay-at-home rules and on the back of a marketing blitz.
The New York-listed company on Tuesday reported revenue of $4.37 billion for 2020, doubled from 2019 due to heavy demand for e-commerce and online gaming, and a net loss of $1.61 billion, widened from a $1.46 billion loss a year earlier because of massive spending to grab market share.
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