Sea Stock Plunges After Q2 Performance - What's Driving The Action?
Portfolio Pulse from Anusuya Lahiri
Sea Limited (NYSE:SE) reported Q2 FY23 revenue growth of 5.2% YoY to $3.096 billion, missing the consensus of $3.420 billion. Adjusted EPS of $0.54 also missed the consensus of $0.69. Digital Entertainment revenue decreased 41.2% YoY, while E-commerce and other services revenue increased 20.6% YoY. The company held $7.7 billion in cash and equivalents. SE shares traded lower by 16.20% in the premarket session.
August 15, 2023 | 12:37 pm
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NEGATIVE IMPACT
Sea Limited's Q2 FY23 revenue and EPS missed consensus estimates, leading to a 16.20% drop in premarket trading.
Sea Limited's Q2 FY23 revenue and EPS missed consensus estimates, which is likely to negatively impact investor sentiment and lead to a decrease in the stock price. The decrease in Digital Entertainment revenue and the increase in E-commerce and other services revenue could also influence the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100