SE - Sea: Recovery In Gaming And Increased Loan Profitability (Rating Upgrade)
2024-05-18 10:51:06 ET
Summary
- Sea, the Singapore-based e-commerce conglomerate, saw its stock rise nearly 15% after reporting strong results across all three major businesses.
- The gaming division saw a sharp resurgence in paid users, the result of new releases within existing games and the continued popularity of Free Fire.
- E-commerce revenue also grew more than 30% y/y, while improvements in logistics helped improve profitability on a sequential basis.
- The company is also seeing soaring profitability in its digital financial services arm, as its loan loss ratios improve year over year.
In a mostly pessimistic earnings season, it's been rare to see tech companies soar on good news. Sea ( SE ), the Singapore-based e-commerce conglomerate often considered the Amazon ( AMZN ) of Southeast Asia, is one of the exceptions. The company saw tremendous results across all three of its major businesses (gaming, e-commerce, and financial services) which helped prop up its stock by nearly 15%. ...
Sea: Recovery In Gaming And Increased Loan Profitability (Rating Upgrade)