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    Shopee boosts quarterly revenue by 270% in Brazil

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    Shopee continued to see strong performance with revenue growing over 270% year-over-year in Q2 2022 (Image: You tube/Shoppe)

    THE shopee decreased in the second quarter its loss for delivery in the Brazil by more than 35% from a year earlier, while revenue jumped more than 270% on strong traffic results from its app, Sea said, company of Singapore that owns the e-commerce site, this Tuesday.

    The loss per delivery measured by adjusted Ebitda, excluding common administrative expenses, was 1.42 dollars in Brazil between April and June, an improvement of “more than 35% year on year”.

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    In the first quarter, Sea had reported a loss on delivery of 1.52 dollars in the country.

    “In Brazil, Shopee continued to see strong performance with revenue growing over 270% year-over-year in the second quarter of 2022,” Sea said in the balance sheet without citing figures.

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    The Singaporean company also highlighted that Shopee became the leader in average monthly active users in the quarter within the segment. mall of the country, while your application held the top spot in total time spent by users.

    The company cited data from analytics firm data.ai.

    Shopee has been growing in e-commerce in Brazil, currently being one of the main international names in the sector, along with companies such as AliExpress and Shein.

    Sea’s shares listed in the United States fell 13.9% on Tuesday, as the company – which in addition to e-commerce also operates in the digital financial services and entertainment segments – saw its global net loss increase by 115% compared to the same stage in 2021.

    Sea also suspended total revenue forecast for 2022 due to macroeconomic uncertainties.

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    Source: Moneytimes

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