Sea Fends Off E-Commerce Rivals to Beat Profit Estimates

Sea Ltd. reported quarterly earnings that topped analysts’ estimates after warding off rivals in Southeast Asia’s competitive e-commerce market rattled by economic and political challenges.

Net income for the three months through March rose 6% to $428 million, the company said in a statement Tuesday. Analysts predicted $394 million on average, according to Bloomberg-compiled data. Revenue increased 47% to $7.1 billion, also exceeding estimates.