Why Sea Limited Stock Rocketed Up Today
Shares of Southeast Asian super-app company Sea Limited (NYSE: SE) had rocketed 20.5% higher on Tuesday as of 12:30 p.m.
Sea reported earnings this morning that, while missing estimates on the bottom line, trounced estimates for revenue growth, with strength across all three of its businesses. As a high-growth stock, that top-line strength appears to be what investors care about most.
In the second quarter, Sea saw revenue rally 38.2% to $5.3 billion, while earnings per share of $0.65 missed expectations by $0.04. Still, Sea was profitable across its three businesses encompassing mobile games, e-commerce, and digital finance.
Source Fool.com
