Sea to Drop Adjusted Revenue Measures After SEC Inquiries

Sea Ltd. will stop using adjusted revenues measures after inquiries from the U.S. Securities and Exchange Commission, Chief Corporate Officer Yanjun Wang said on a conference call Tuesday.

Starting with its earnings release for the third quarter, the Singapore-based company will discontinue reporting adjusted revenues for gaming and e-commerce units, according to the company’s statement. For its gaming unit Garena, it will provide another operating metric of “bookings,” which will reflect changes in its deferred revenue.

Since its initial public offering in New York in 2017, Sea has been encouraging investors and analysts to focus on financial metrics that are ...