Sea Ltd.’s e-commerce arm turned its first quarterly profit on an adjusted basis, a sign it’s holding its own against bigger Chinese rivals in Southeast Asian markets like Indonesia.

Its US shares climbed 10.5 per cent, the biggest gain since August. The Singapore-based company reported overall net income that topped estimates at US$153.3 million (S$205 million), as well as a better-than-projected 31 per cent rise in revenue to US$4.3 billion for the September quarter.

(Reuters) -South East Asian technology firm Sea Ltd beat third-quarter revenue estimates on Tuesday and said its e-commerce business, Shopee, turned profitable, sending its shares up more than 17% in early trading.