SINGAPORE -- Singapore-based tech group Sea is marking a significant slowdown in top-line growth as the company continues to focus on profitability through aggressive cuts in promotional expenses after years of expansion.
The New York Stock Exchange-listed company on Tuesday posted net income of $87.2 million for the January-March quarter, a turnaround from a $580.1 million loss in the same period a year ago, on the back of stronger e-commerce and fintech services. But group revenue for the latest quarter expanded just 5% on the year to $3 billion, the slowest growth rate over the past three years.
