(RTTNews) - Sea Ltd. (SE), a consumer internet company, on Tuesday announced that net income increased in the second quarter compared with the previous year.
For the second quarter, net income increased 418.3 percent to $414.20 million from $79.91 million in the prior year.
Earnings per share were $0.65 versus $0.14 last year.
Seven analysts, on average, had expected the company to report $0.88 per share. Analysts' estimates typically exclude special items.
Adjusted EBITDA jumped 84.9 percent to $829.24 million from $448.47 million in the previous year.
Operating income surged 488.4 percent to $487.72 million from $82.89 million in the prior year.
Revenue increased 38.2 percent to $5.26 billion from $3.81 billion in the previous year.
The company said, "Given all of this, we are raising our full-year guidance for Garena, and expect bookings to grow more than 30% in 2025, year-on-year."
In the pre-market trading, Sea is 8.26% higher at $158.35 on the New York Stock Exchange.
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