Sea Limited -1.7% as Q3 revenues beat amid higher costs [Seeking Alpha]
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: Seeking Alpha
Sea Limited (NYSE: SE ) is after posting its Q3 earnings, where revenues beat expectations and the company boosted full-year guidance. Revenues grew 60% but sharply higher costs nearly halved gross profit (to $5.6M from $10.8M), and operating loss swelled to $246.2M from $160.7M. Net loss was 64% higher, at $218M. Revenue by segment: Digital Entertainment, $112.5M (up 41%); E-commerce, $65.9M (up 2,266%); Digital financial services, $2.55M (down 46.8%); other services, $23.9M (up 256.3%). It's raising full-year guidance for revenue of $930M-$970M (68%-75.2% growth) from a previous $780M-$820M (40.9%-48.1% growth); revenue for digital entertainment is forecast at $600M-$620M (21-25% growth). The company also raised guidance for e-commerce GMV, to $9.2B-$9.7B (123.7%-135.9% growth) from a previous $8.2B-$8.7B. Conference call to come at 7 p.m. ET. Previously: Sea beats on revenue (Nov. 20 2018) Press release See all stocks on the move » Now
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- 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
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Earnings
- 3/4/24 - Beat