CORRECTED-UPDATE 1-Tencent-backed Sea posts wider-than-expected loss as marketing costs spike [Reuters]
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: Reuters
CORRECTED-UPDATE 1-Tencent-backed Sea posts wider-than-expected loss as marketing costs spike | Reuters Reuters Staff 2 Min Read (Corrects listing to ‘NYSE’ from ‘Nasdaq’ in last graph) Feb 28 (Reuters) - Online gaming and e-commerce firm Sea Ltd reported a larger-than-expected fourth-quarter loss, hurt by soaring marketing expenses as the company pumped money into promoting its e-commerce business. Marketing expenses for the new e-commerce division more than tripled to $135 million in the quarter as Singapore-based Sea rolled out shipping and other promotions to snag new users. The firm, which counts China’s Tencent Holdings as its biggest shareholder, said revenue for the December quarter rose 41 percent on a year earlier to $124.6 million, as it launched new games and offered older ones in new markets. It forecast 2018 full-year revenue of $730 million to $770 million. Total adjusted revenue, rose 72.8 percent to $164.5 million for the quarter, slightly above analysts’ average esti
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- 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
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Earnings
- 3/4/24 - Beat