Singapore-based Sea Limited continued to see strong sales and profit growth in the second quarter, driven by solid performance across all three businesses.

The US-listed company lifted its revenue by 48.1 per cent to US$7.8 billion in the quarter ended June 30. Its gross profit also soared 47.3 per cent to $3.5 billion, while net income rose 10.6 per cent to $458.1 million.

Shopee revenue jumped 48.2 per cent to $5.6 billion, with core marketplace revenue, mainly consisting of transaction-based fees and advertising revenues, up 65.6 per cent. 

Gross orders rose 27 per cent to 4.2 billion for the quarter, while gross merchandise value increased 28.4 per cent.

Sales at financial services business Monee jumped 58.9 per cent to $1.4 billion, while online games business Garena rose 33.5 per cent to $746.6 million.

“Our strong momentum from the first quarter has continued into the second,” said Forrest Li, Sea’s chairman and CEO.

“Our improving operational efficiency and growing scale have strengthened our unit economics. With this solid momentum, we are optimistic that Shopee will achieve the milestone of $1 billion in adjusted EBITDA for the full year,” Li added.