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Another Profitable Quarter, But Troubles In Gaming Arm Remains

Another Profitable Quarter, But Troubles In Gaming Arm Remains
- Total GAAP revenue +5%
- Total gross profit +21%
Good:
Strong sales growth in Shopee & SeaMoney
Signs of recovery in Free Fire and AoV
Reduced delivery time via automation
Bad:
Garena's revenue -53%, due to gaming slump
Potential growth drivers:
- Expansion into Brazil: 8 distribution and sorting centers
- Launch of new games such as Undawn & Black Clover Mobile
Thoughts:
- A solid quarter of turnaround, with focus on profitable growth and strong cost discipline
- Revenue in Digital Entertainment continues to decline, but shows signs of rebounding.
- Could the launch of new games be the catalyst for the recovery of digital entertainment?
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