Sea Limited, the parent company of 'Free Fire', Shopee, and SeaMoney, marked its first profitable year in 2023, signaling a significant financial turnaround. The company reported a smaller-than-expected drop in quarterly earnings, with its Q4 revenue rising by 4.8% to $3.6 billion, surpassing the $3.5 billion estimate. This increase was attributed to the strength of its e-commerce platform amidst intensifying competition from rivals like Lazada and TikTok. Additionally, Sea Limited's adjusted EBITDA for Q4 decreased by 74% year-over-year to $126.7 million, still beating the $88 million estimate due to market expenses. The company's shares saw a pre-market increase of 12%, reaching $57.40, attributed to the positive revenue outlook and the announcement of its first full year of annual profit since its IPO, with Forrest Li, Sea's CEO, expressing satisfaction with achieving this milestone. The company also eyes a positive EBITDA for Shopee in the second half of 2024, further boosting investor confidence. Sea Limited's EPS was -$0.19, beating the estimate by $0.07. Shopee's marketplace revenue grew by 23% year-over-year to $2.3 billion, Garena's bookings increased by 2% quarter-over-quarter to $0.5 billion, and SeaMoney's revenue rose by 24% year-over-year to $0.5 billion, indicating strong performance across its diverse portfolio.
Singapore's Sea Limited posts first profitable year amid efforts to defend market share against Lazada, TikTok https://t.co/1eSYYfouI5
Singapore's Sea Limited posts first profitable year amid efforts to defend market share against Lazada, TikTok https://t.co/gt8ziaLNES
$SE should get to $60 if earnings are decent Sea Limited will report before market open. Analysts estimate $3.53B in revenue (+2.29% YoY) and -$0.27 in earnings per share. https://t.co/JuSDwWrIW9
Yep $SEI just caught a bid @SeiNetwork ๐ https://t.co/4r6QsGpda1
$SE Sea Limited Q4 FY23: โข Revenue +5% Y/Y to $3.6B ($70M beat). โข EPS -$0.19 ($0.07 beat). ๐ Shopee marketplace +23% Y/Y to $2.3B ๐ด Garena Bookings +2% Q/Q to $0.5B. ๐ต SeaMoney revenue +24% Y/Y to $0.5B. https://t.co/aH3lVNUrcG
Excellent and beauty call by me on $SE in newsletter at 50. Now around 60 dollar.
$SE (+11.2% pre) Sea Shares Jump as Profit Beat Signals E-Commerce Resilience - BBG https://t.co/RKRXbd7qXb
$SE is bid up 12% to $57.40 pre-market on stellar revenue due to resurgent e-commerce strength. We made some good cash on this one! ๐ https://t.co/gD27vWwsWo https://t.co/j3j5NjGmjT
$SE Sea Ltd. shares are up 12% pre-market after it reported a smaller than expected declining in earnings and increased guidance for e-commerce and gaming โI am happy to share that we have achieved our first full year of annual profit since our IPO,โ said Forrest Li, Seaโsโฆ
Sea reports Q4 revenue up 4.8% to $3.6B, above $3.5B est., and adjusted EBITDA down 74% YoY to $126.7M, above $88M est., due to market expenses; SE jumps 11%+ (@oliviapohtech / Bloomberg) https://t.co/wBBJdy5SjK ๐ซ Subscribe: https://t.co/OyWeKSRpIM https://t.co/gsSB0Pzann
โFree Fireโ parent Seaโs stock soars after revenue beat amid e-commerce strength https://t.co/LC07FqOTmJ
$SE - as I mentioned 2 weeks ago, this goes up to $60 https://t.co/GL9AAIEdXq https://t.co/SHBcXd4ZHa
Sea reports a smaller-than-expected drop in quarterly earnings, with e-commerce revenue holding firm even as competition from rivals intensifies https://t.co/DzgETvkhTu
Sea hit first profitable year in 2023, eyes positive EBITDA for Shopee in H2 2024 https://t.co/OjpCYbJRWX
Waking soon on $SEI https://t.co/F3PeTTgZqR