Sea ( NYSE: SE ) is scheduled to announce Q3 earnings results on Tuesday, November 15th, before market open.
The Singapore-based technology company reported mixed second-quarter results and suspended revenue guidance for its e-commerce segment, noting the "increasing macro uncertainties."
With the global economy increasingly weakening due to rising interest rates, slowing consumer activity and geopolitical uncertainties, Sea ( SE ) said it would "further focus on efficiency and optimization for the long-term strength and profitability of the e-commerce business."
Across the industry, NPD Group data showed consumer videogame spending in the third quarter fell 5% vs. the same period in 2021, continuing a string of tough comparisons for the industry against an uncharacteristically strong prior year.
Shares have taken a nearly 80% dive YTD over worries due to persistent inflation and a weak global economy.
Towards the end of Q3, it was reported Sea ( SE ) was firing 3% of its Shopee employees in Indonesia due to worsening macroeconomic conditions.
Still, JPMorgan analyst Ranjan Sharma upgraded Sea ( SE ) to Overweight from Neutral in early November, expecting a "swift improvement" in the company's profitability, with Q3 marking the peak in its losses.
The consensus EPS Estimate is -$0.95 (-13.1% Y/Y) and the consensus Revenue Estimate is $3.01B (+11.5% Y/Y).
Over the last 3 months, EPS estimates have seen 3 upward revisions and 1 downward. Revenue estimates have seen 0 upward revisions and 6 downward.
Over the last 2 years, SE has beaten EPS estimates 25% of the time and has beaten revenue estimates 88% of the time.
For further details see:
Sea Q3 2022 preview: Are losses set to bottom out this quarter?