FILE PHOTO: A lanyard showing logos of Southeast Asian e-commerce and gaming group Sea Ltd is pictured at its office in Singapore, March 5, 2021. REUTERS/Edgar Su/
(Reuters) -Singaporean tech firm Sea Ltd missed first-quarter profit estimates on Tuesday, as its digital entertainment revenue halved and it took a one-time charge of more than $100 million.
Sea shares dropped 12.5% to $77.05 and headed for their worst day in six months, dulling this year's strong gains booked on a cost-cutting plan involving thousands of job cuts, the closure of some operations and a lower marketing budget.
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