Singapore's Sea Reports Mixed Bag Of Q2 Earnings, Expects Shopee To Become Adjusted EBITDA Positive From Q3
Portfolio Pulse from Anusuya Lahiri
Sea Limited (NYSE:SE) reported mixed Q2 2024 earnings with revenue growth of 23% YoY to $3.81 billion, beating estimates. EPS of $0.14 missed expectations. Digital Entertainment revenue fell, but bookings and adjusted EBITDA rose. E-commerce revenue increased, but the segment had a loss in adjusted EBITDA. Shopee is expected to become adjusted EBITDA positive from Q3 2024. SE shares rose 3.10% premarket.
August 13, 2024 | 1:03 pm
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Sea Limited reported mixed Q2 2024 earnings with revenue growth of 23% YoY to $3.81 billion, beating estimates. EPS of $0.14 missed expectations. Shopee is expected to become adjusted EBITDA positive from Q3 2024. SE shares rose 3.10% premarket.
The revenue beat and positive outlook for Shopee's adjusted EBITDA from Q3 2024 are likely to boost investor sentiment. Despite the EPS miss, the overall positive revenue growth and future guidance have led to a premarket share price increase.
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