SE - Why Now Is Not the Time to Abandon Ship on Sea Limited Stock
2023-08-21 10:00:00 ET
Sea Limited (NYSE: SE) stock plunged by nearly 30% following its earnings report for the second quarter of 2023. Although revenue grew, the poor performance of its digital-entertainment segment and slowing e-commerce growth weighed on investors.
Nonetheless, Sea Limited has successfully turned what was a money-losing business into a profitable conglomerate. With two of its three segments continuing to post significant growth, investors should not give up on this company.
For Q2, Sea reported revenue of $3.1 billion, a 5% increase year over year. This included a 21% surge in e-commerce sales from its Shopee segment and a 54% revenue increase in digital-financial services, better known to the public as Sea Money.
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Why Now Is Not the Time to Abandon Ship on Sea Limited Stock