Sea, the parent company of Garena, has published a report for the first quarter of 2023. She reported a sharp drop in the revenue of the gaming division.
▪️Garena’s revenue amounted to $539.7 million, which is 51% less than in 2022. Receipts fell 44% to $462.3 million.
The number of quarterly active players decreased by 20% to 491.6 million people.
In April, the monthly audience of Free Fire was higher than in the previous eight months. Sea did not specify how much the MAU has changed compared to last year.
Sea itself earned $3 billion at the end of the quarter. An increase of 5% compared to 2022.