TECH - Sea Limited's CEO Celebrates Strong Q1 Across Segments Highlights E-commerce and Digital Entertainment Growth | Benzinga
Sea Limited (NYSE:SE) reported fiscal first-quarter 2024 revenue growth of 22.8% year-on-year to $3.73 billion, beating the analyst consensus estimate of $3.56 billion.
EPS loss of $(0.04), down from $0.15 Y/Y, missed the analyst consensus estimate of $(0.02). The stock price gained after the results in the premarket session.
Digital Entertainment revenue decreased 15.1% year over year to $458.12 million, primarily due to lower recognition of accumulated deferred revenue due to lower bookings in previous quarters. Bookings improved to $512.1 million, up 10.8% year over year.
The segment’s adjusted EBITDA was $292.2 million, up 27% Y/Y.
Quarterly active users were 594.7 million, up 21% year over year. Average bookings per user were $0.86 versus $0.94 year over year.
E-commerce and other services ...