Sea Limited (NYSE:SE) reported Q4 sales surpassing estimates with $3.62 billion against the expected $3.53 billion. Despite a quarterly loss of 19 cents per share compared to last year's profit of 72 cents, the company saw a 40.6% Y/Y increase in core marketplace revenue and a 46.0% Y/Y rise in gross orders. CEO Forrest Li announced Sea's first full year of annual profit since its IPO, with a strong balance sheet and a cash position of $8.5 billion. Sea expects Shopee's GMV growth in the high teens and a positive adjusted EBITDA in H2 2023. Following the report, Sea shares rose 5.6% to $53.90, and analysts from Bernstein and JP Morgan raised their price targets to $60 and $70, respectively.