Sea Group's Revenue Soared 121.8% in Q3 2021

Sea Group reported a net income of US$2.7 billion, or approximately Rp 38.5 trillion, in the third quarter of 2021 (using an exchange rate of US$1 = Rp 14,265). This figure surged 121.8% year-on-year (YoY) compared to US$1.2 billion in the same period last year.

E-commerce and other services contributed the largest portion to Sea Group's revenue in Q3 2021, reaching US$1.3 billion, a 167.6% YoY increase. Digital entertainment, or online gaming, contributed US$1.1 billion, up 93.2% YoY.

However, Sea Group's total cost of revenue increased by 108.8% to US$1.7 billion in Q3 2021. This includes a 61.4% increase in digital entertainment costs to US$314.4 million, and a 139.8% increase in e-commerce and other services costs to US$1.1 billion.

Sea Group's net loss also rose by 34.3% YoY, increasing from US$425.2 million to US$570.9 million in Q3 2021.

Overall, Sea Group's revenue has shown consistent growth over the past five years. This is driven by the continuous increase in transactions and user numbers across its services, year after year. (See: Shopee Absorbed 12,912 Indonesian Employees in Q2 2021)