Garena faces record revenue drop

The parent company of the authors of Free Fire has published a financial report for the third quarter of 2022. For her gaming division, this period did not go very well.

▪️Garena‘s revenue fell by 18.8% to $892.9 million. This is the biggest drop in the history of the Sea gaming division.

▪️Receipts (bookings) from Garena fell by 45.5% to $664.7 million.

The number of quarterly active players fell by 22% to 568.2 million people.

Sea did not explain why such a fall was caused. But recall that at the beginning of the year, the Indian authorities banned Free Fire in the country.

At the same time, the entire Sea was able to increase revenue to $3.2 billion and reduce net losses to $569.3 million.