Sea Limited Reports Net Income In Q1; Revenue Up 29.6%

(RTTNews) - Sea Limited (SE) reported first quarter total net income of $410.8 million, compared to a total net loss of $23.0 million, a year ago. Profit per share was $0.65 compared to a loss of $0.04. Total adjusted EBITDA was $946.5 million, compared to $401.1 million. Total GAAP revenue was $4.8 billion, up 29.6% year-on-year.

"Our strong start to the year gives us more confidence of achieving our full-year guidance," said Forrest Li, Sea's Chairman and CEO.

Shares of Sea Limited are up 5% in pre-market trade on Tuesday.

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