Sea Limited (SE) reported fourth-quarter results early Tuesday that missed earnings estimates but beat on revenue. SE stock fell.
The company reported an adjusted loss of 88 cents a share on revenue of $3.2 billion. Analysts expected Sea to report a loss of 59 cents on on revenue of $2.9 billion. Revenue doubled from the year-ago period.
SE stock was down 6.2% near 136.60 during premarket action on the stock market today.
Sea is a leading provider of e-commerce and digital entertainment in the Southeast Asia region. Sea breaks down into three core internet businesses — digital entertainment, e-commerce and financial services. The three units are called Garena, Shopee and SeaMoney, respectively.
According to Sea, Garena is a leading global online games developer and publisher. In addition, it says Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan, while SeaMoney is a leading digital payments and financial services provider in Southeast Asia.
More to follow on SE stock earnings.
Source: https://www.investors.com/news/technology/se-stock-down-on-quarterly-earnings-miss/?src=A00220&yptr=yahoo