Singapore’s Sea Misses on Profit Amid Fierce Competition

Sea Ltd.’s quarterly profit missed analysts’ estimates after the company boosted spending to battle competitors in Southeast Asia’s cut-throat e-commerce market.

Net income for the July-through-September period came to $375 million, the company said in a statement Tuesday. Analysts were expecting $433 million, according to Bloomberg-compiled data. Revenue rose 38% to $6 billion, topping the $5.65 billion average estimate.