Sea Shares Gain Premarket After Q3 Consensus Beat

Loading...
Loading...
  • Sea Limited SE reported third-quarter FY22 revenue growth of 17.4% year-on-year to $3.16 billion, beating the consensus of $3.00 billion.
  • Digital Entertainment revenue decreased 18.8% Y/Y to $892.88 million. The bookings declined 4% Q/Q to $664.7 million. The segment-adjusted EBITDA was $289.9 million, compared to $333.6 million a quarter ago.
  • Quarterly active users were 568.2 million, compared to 619.3 million a quarter ago.
  • Average bookings per user were stable at $1.2 versus a quarter ago.
  • E-commerce and other services revenue increased 32.4% Y/Y to $1.9 billion. Adjusted EBITDA loss for Shopee overall was $(495.7) million improving by 27.5% Y/Y.
  • Core marketplace revenue grew 54.1% Y/Y. Gross orders rose 19.2% Y/Y. Gross merchandise value increased 13.5% Y/Y.
  • Digital Financial Services revenue grew 147.2% Y/Y to $326.9 million.
  • Adjusted EPS loss of $(0.66) beat the consensus loss of $(1.09). Sea Ltd held $7.3 billion in cash and equivalents.
  • "Given the significant uncertainties in the macro environment, we have entirely shifted our mindset and focus from growth to achieving self-sufficiency and profitability as soon as possible, without relying on any external funding," said Forrest Li, Sea's Chairman and Group Chief Executive Officer.
  • Outlook: Sea expects 2022 Digital Entertainment bookings of $2.6 billion - $2.8 billion, down from the previous guidance of $2.9 billion - $3.1 billion.
  • Price Action: SE shares traded higher by 20.41% at $55.15 in the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceMoversTrading IdeasBriefswhy 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!

Loading...