Why Sea Limited Stock Fell 23.1% in November
Shares of Sea Limited (NYSE: SE) dropped 23.1% in November, according to data from S&P Global Market Intelligence, after the Singapore-based e-gaming company announced quarterly results for the first time since going public.
More specifically, after drifting lower in the days leading up to its inaugural report, Sea Limited shares plunged another 10% on Nov. 28, 2017, alone -- the first trading day after the formal release. In it, Sea confirmed that its quarterly revenue had climbed 4% year over year to $94 million, largely in line with consensus estimates. And if you include deferred revenue and e-commerce commission income, the top line increased a much more impressive 73% year over year to $151.7 million.
On the bottom line, however, that translated to a whopping adjusted net loss of $127.1 million, or $0.75 per share.
Source: Fool.com
