U.S. stock market midday update: Sea up 13.38%, Q2 revenue of 7.79 billion exceeds expectations, Shopee GMV hits record
Price Alert·
- Sea shares rose 13.38 % as its Q2 revenue reached $ 7.79 billion, exceeding expectations with strong performance across its e-commerce and digital financial services.
- Shopee achieved record-high GMV and order volumes with a 28 % quarterly growth, prompting the company to raise its full-year adjusted EBITDA expectation to $ 1 billion.
- Meanwhile, major tech stocks experienced varied movements, with Amazon seeing increased cloud demand while Alibaba faced a share price decline amid cautious market sentiment and analyst ratings.