Sea Ltd’s losses widened in 2018 as its e-commerce unit Shopee continued to weigh on earnings. The firm’s adjusted EBITDA losses for FY18 jumped 109 per cent to $694 million from $332 million in the previous year.
Shopee’s weak performance was the main contributor, with adjusted EBITDA losses for the unit rising over 93 per cent to $860.3 million. Sea Ltd’s digital entertainment arm, meanwhile, saw its EBITDA profits rise 50.1 per cent to $262.5 million.
