10:59 AM EDT, 05/13/2025 (MT Newswires) -- Sea (SE) swung to a first-quarter profit year over year as the digital entertainment and e-commerce company's revenue surged, sending its US-listed shares higher intraday Tuesday.

The Singapore-based parent of e-commerce platform Shopee reported per-share earnings of $0.65, compared with a loss of $0.04 a year earlier. Revenue grew about 30% year over year to $4.84 billion, but came in below the consensus on FactSet for $4.91 billion.

Sea's New York Stock Exchange-listed shares were up 7.5% in Tuesday trading.

"We have delivered another great quarter of strong growth with improving profitability across all three businesses," Chief Executive Forrest Li said in a statement. "Our strong start to the year gives us more confidence of achieving our full-year guidance."

The digital financial services segment's revenue climbed 58% year on year. E-commerce grew 28% to $3.5 billion, led by a 29% jump in marketplace sales. Digital entertainment Garena increased 8.2%.

Sea expects to achieve its full-year gross merchandise value growth guidance of 20% for Shopee, and a double-digit increase in user base and bookings for Garena, Li told analysts during an earnings call, according to a FactSet transcript.

Price: 154.32, Change: +11.87, Percent Change: +8.33