4 Reasons I Bought More Sea Limited Stock
Sea Limited (NYSE: SE), the Singapore-based tech company that owns the e-commerce platform Shopee and the game publisher Garena, recently posted its first-quarter earnings. Its revenue surged 147% year-over-year to $1.8 billion, beating estimates by $20 million. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) improved from a loss of $70 million to a profit of $88 million but missed expectations by $85 million.
On a generally accepted accounting principles (GAAP) basis, Sea's net loss widened from $281 million to $422 million, or $0.62 per share, which was seven cents below expectations. Sea's stock rose slightly after that mixed report, but the ongoing tech sell-off has still reduced its value by nearly 20% over the past three months.
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Source Fool.com
