Sea Shares Trade Lower Premarket On Q2 Revenue Miss, Suspension Of Guidance

  • Sea Limited SE reported second-quarter FY22 revenue growth of 29% year-on-year to $2.94 billion, missing the consensus of $2.97 billion.
  • Digital Entertainment revenue decreased 12.1% Y/Y to $900.26 million, and bookings were $0.72 billion versus $1.20 billion a year ago. The segment adjusted EBITDA was $333.6 million, compared to $740.9 million a year ago.
  • Quarterly active users were 619.3 million, compared to 725.2 million a year ago.
  • Average bookings per user were $1.2 versus $1.6 a year ago.
  • E-commerce and other services revenue increased 75.6% Y/Y to $1.76 billion. Adjusted EBITDA loss for Shopee overall was $(648.1) million versus $(579.8) million a year back.
  • Marketplace revenue grew 61.9% Y/Y, and product revenue rose 13.6% Y/Y. Gross orders rose 41.6% Y/Y. Gross merchandise value increased 27.2% Y/Y.
  • Digital Financial Services revenue grew 214.4% Y/Y to $279 million.
  • The mobile wallet total payment volume rose 35.7% Y/Y to $5.7 billion.
  • Adjusted EPS loss of $(1.03) beat the consensus loss of $(1.21). Sea Ltd held $7.8 billion in cash and equivalents.
  • Outlook: Sea suspended e-commerce GAAP revenue guidance for the full year 2022 amid macro uncertainties. 
  • Price Action: SE shares traded lower by 4.07% at $86.31 in the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTechTrading IdeasBriefspremarket tradingwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!