"Sea Limited's Stock Surges on Strong E-Commerce Performance"

Sea Ltd's shares rose after reporting a smaller-than-expected drop in quarterly earnings and predicting improving prospects for its e-commerce and gaming businesses. The company's e-commerce arm, Shopee, is facing competition from rivals like TikTok and Alibaba, but still managed to attract buyers with a 23% increase in revenue. The gaming arm, Garena, is benefiting from sustained demand for its hit title Free Fire. Sea's CEO plans to ramp up investments into Shopee to defend its market share, despite potential margin erosion and a price war with competitors. The company froze salaries and cut expenses in 2022 to achieve positive cash flows.