Sea Shares Plunge Most Since 2023 After Profit Falls Short

Sea Ltd. shares fell by the most in more than two years after its quarterly earnings missed analysts’ estimates, a sign that competition from deep-pocketed rivals is weighing on the e-commerce company’s profitability.

Net income for the three months ended in December was $410.9 million, the company said in statement Tuesday. While that represented an increase of 73% from a year earlier, analysts predicted $442 million on average, according to Bloomberg-compiled data.