Why Sea Stock Briefly Gained Today
Shares of Sea Limited (NYSE: SE) gained as much as 5% this morning after the company reported third-quarter earnings. The stock has since given up those gains and is down 2% as of 1 p.m. EST.
Revenue in the third quarter nearly doubled to $1.2 billion, but that was still shy of the $1.4 billion in sales that analysts were expecting. That resulted in an adjusted net loss per share of $0.69, which was also worse than the $0.53 per share in adjusted losses that Wall Street was modeling for.
Image source: Sea.
Source Fool.com
