Singapore's Sea Reports Mounting Losses, President to Depart
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Sea Ltd., operator of Southeast Asia’s biggest gaming platform, reported mounting losses amid investments for growth and said Group President Nick Nash will leave his position at the end of the year.
The Singapore-based company reported its net loss for the quarter ended in December more than tripled to $263.1 million, compared with analyst estimates that it would lose $201 million, while total revenue climbed 41 percent to $124.6 million, according to generally accepted accounting principles.