- Sea Limited (NYSE:SE) is 1.7% lower after posting its Q3 earnings, where revenues beat expectations and the company boosted full-year guidance.
- Revenues grew 60% but sharply higher costs nearly halved gross profit (to $5.6M from $10.8M), and operating loss swelled to $246.2M from $160.7M.
- Net loss was 64% higher, at $218M.
- Revenue by segment: Digital Entertainment, $112.5M (up 41%); E-commerce, $65.9M (up 2,266%); Digital financial services, $2.55M (down 46.8%); other services, $23.9M (up 256.3%).
- It's raising full-year guidance for revenue of $930M-$970M (68%-75.2% growth) from a previous $780M-$820M (40.9%-48.1% growth); revenue for digital entertainment is forecast at $600M-$620M (21-25% growth).
- The company also raised guidance for e-commerce GMV, to $9.2B-$9.7B (123.7%-135.9% growth) from a previous $8.2B-$8.7B.
- Conference call to come at 7 p.m. ET.
- Previously: Sea beats on revenue (Nov. 20 2018)
- Press release
- Now read: Not All Doom And Gloom At Electronic Arts (NASDAQ:EA)
Original article