Billionaire Forrest Li’s Sea Sinks Deeper Into The Red As Shopee Losses Widen, Expenses Surge [Forbes]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
Last sea limited american depositary shares, each representing one class a ordinary share earnings: 3/3 06:30 am
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Source: Forbes
Forrest Li, chairman and group chief executive officer of Sea Ltd., poses for a photograph in... [+]Singapore on Wednesday, July 8, 2020. Demand for Sea's mobile games and online-shopping platform has surged during the pandemic, and the company is bidding on a Singapore digital-banking license to accelerate its push into financial services. Photographer: Wei Leng Tay/Bloomberg© 2020 Bloomberg Finance LPThe Singapore-based e-commerce and gaming giant reported on Tuesday that its net loss in the first quarter ended March widened to $580 million from $422 million. While overall revenue climbed 64% to $2.9 billion, the company’s operating expenses surged 68% to $1.7 billion due largely to higher marketing costs as well as research and development expenditures, the company said in astatementThe widening losses come as Sea consolidates its e-commerce operations following an aggressive global expansion drive in recent years. In March, Sea pulled out of India and France to focus on key market
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News
- Chinese Metal Tycoon's Heir Buys $62 Million Singapore Mansion [BNN Bloomberg (Canada)]BNN Bloomberg
- Sea Limited (NYSE: SE) was upgraded by analysts at Loop Capital from a "hold" rating to a "buy" rating. They now have a $92.00 price target on the stock, up previously from $59.00.MarketBeat
- Sea Limited or Mercado Libre: Which Is the Best Growth Stock to Buy? [Yahoo! Finance]Yahoo! Finance
- Sea Limited (NYSE: SE) was upgraded by analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating. They now have a $70.00 price target on the stock, up previously from $65.00.MarketBeat
- Sea Limited (NYSE: SE) was upgraded by analysts at Bank of America Co. from a "neutral" rating to a "buy" rating. They now have a $70.00 price target on the stock, up previously from $62.00.MarketBeat
SE
Earnings
- 3/4/24 - Beat