Why Sea Stock Was Surging Today
Shares of Sea Limited (NYSE: SE) were up 37% as of 11:29 a.m. ET on Tuesday after the company reported better-than-expected earnings for the third quarter.
The e-commerce leader reported a net loss per share of $0.66, which was better than the loss of $0.99 expected by analysts. Revenue of $3.2 billion also beat the consensus estimate of $3.05 billion.
Worries over slowing growth sent the stock down over 70% year to date, but the company's shift to improving margins could turn things around.
Source Fool.com
