Sea

SINGAPORE -- Singapore-based tech group Sea will "rapidly" prioritize profitability after more than doubling its quarterly loss, shifting its stance o.

Sea Limited (NYSE: SE) (“Sea” or the “Company”) today announced its financial results for the second quarter ended June 30, 2022. “Our solid results f.

Amounts are expressed in thousands of US dollars (“$”). Amounts are expressed in thousands of US dollars (“$”) except for number of shares & per share data. We believe that the total adjusted EBITDA helps to identify underlying trends in our operating results, enhancing their understanding of the past performance and future prospects. We believe that the segment adjusted EBITDA helps to identify underlying trends in our operating results, enhancing their understanding of the past performance and future prospects. We had a net income tax expense of US$64.8 million and US$75.2 million in the second quarter of 2022 and 2021, respectively. Other operating income mainly consists of rebates from e-commerce related logistics services providers. These expenses are excluded from segment results as they are not reviewed by the Chief Operating Decision Maker (“CODM”) as part of segment performance. - Digital Entertainment: GAAP revenue was US$0.9 billion compared to US$1.0 billion in the second quarter of 2021. This operating metric is used as an approximation of cash spent by our users in the applicable period that is attributable to our digital entertainment segment. GAAP revenue and GAAP marketplace revenue as % of total gross merchandise value (“GMV”) increased from 7.7% and 6.1% a year ago to 9.2% and 7.7%, respectively. Adjusted EBITDA loss per order improved by 21% to reach US$0.33 in the second quarter of 2022, compared to US$0.41 for the same period in 2021. Total net loss excluding share-based compensation and impairment of goodwill1 was US$(569.8) million compared to US$(321.2) million for the second quarter of 2021.

It joins other online giants struggling to gauge an uncertain global economic outlook. Read more at straitstimes.com.

Revenue from gaming arm Garena fell to US$900.3 million, slightly ahead of estimates for US$827.6 million, as hit mobile game Free Fire matures. Chief executive Forrest Li affirmed a target for the business to hit positive adjusted Ebitda before headquarters costs in Asia this year. Some investors are reducing their exposure to Sea. Its shares have fallen about 75 per cent since peaking in October. Shoppers emerging from pandemic lockdowns are cutting back on online purchases, shifting towards essentials during a potential recession. [Sea cut its full-year e-commerce revenue outlook in May,](https://www.straitstimes.com/business/companies-markets/sea-quarterly-loss-widens-after-consumers-cool-online-spending) to a low of US$8.5 billion versus US$8.9 billion previously.

The Singapore-based internet giant recorded US$2.9 billion in total GAAP revenue, up 29% from a year ago.

(Bloomberg) -- Sea Ltd. posted a bigger loss than expected and withdrew its 2022 e-commerce forecast, joining other online giants struggling to gauge an ...

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New York-listed Sea Ltd. has posted a net loss of $931 million for the second quarter ended June 30, 2022, more than doubling from $433.7 million a year ago.

Adjusted EBITDA losses for the business improved to $111.5 million, from $155 million a year ago. Total payment volumes for the mobile wallet hit $5.7 billion in April-June 2022, or 36% up from the year before. Ses Ltd said it is suspending e-commerce GAAP revenue guidance for the 2022 financial year. Even so, he said the group will be tightly managing operating expenses such as marketing and logistics costs while also increasing monetisation across its income streams, with a focus on high-income streams. Adjusted losses before interest, tax, depreciation and amortisation (EBITDA) for Shopee was $648 million, compared with losses of $580 million in the same period last year. Li said Sea Group will be suspending its e-commerce guidance for 2022.

SINGAPORE, August 16, 2022--Sea Limited (NYSE: SE) ("Sea" or the "Company") today announced its financial results for the second quarter ended June 30, ...

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Taking on an integrated approach, digital marketing expert, Tug, vowed to give its clients in Southeast Asia (SEA) not only just clicks and impressions.

Soo, for her part, said she would add “fun” to Tug’s motto, saying that a team produces its greatest work when they are happy. That allowed the company during the pandemic to be much more efficient with their budgets that were tighter, and help target audiences better,” Beck said. “We also set up messaging depending on changes to COVID lockdown laws. Following the opening of its SEA hub in Singapore in July, Beck said Tug will also open another office in New York in September to cater to clients in North America. Apart from an integrated approach, Tug also takes pride in its bespoke solutions which the agency also aims to bring to its clients in the Southeast Asian region. An example of an innovation Tug has pulled together for a client was called “Search Uncut.” The tool was specifically made for London’s Zipcar to help the car-sharing company analyse their top 30 keywords – from their natural and paid searches – in just one dashboard.

Sea Ltd posted a bigger-than-expected loss, and withdrew its 2022 e-commerce forecast, joining other online giants struggling to gauge an increasingly ...

Altimeter Capital Management LP, a shareholder of Singapore-based Grab Holdings Ltd, exited Sea’s Class A ADRs, according to an analysis of its filings by Bloomberg News. Tiger Global Management LLC sold US$473.8 million of Sea shares, cutting its holdings after six quarters of buying, according to Securities and Exchange Commission filings. - Revenue from gaming arm Garena fell to US$900.3 million, slightly ahead of estimates of US$827.6 million, as hit mobile game Free Fire matures. Chief executive officer Li affirmed a target for the business to hit positive adjusted Ebitda before headquarters costs in Asia this year. Its net loss more than doubled to over US$931 million. It’s been a steep downfall for one of Singapore’s most prominent tycoons, whose fortune has tanked almost US$17 billion from its highs.

Oceanographers have discovered more about why the eastern Great Australian Bight supports a year-round abundance of marine predators, including different ...

"This study demonstrates how little we actually know about the functioning of marine ecosystems, and how important real field observations are,'' adds Associate Professor Kaempf, who is president of the Australian Meteorological and Oceanographic Society (AMOS), Adelaide Division. "To understand this, we explored year-to-year variations of phytoplankton layers in the region using satellite data in conjunction with water-column data from the Integrated Marine Observing System (IMOS)." For the first time, experts from Flinders University and the South Australian Research and Development Institute (SARDI) have described substantial subsurface phytoplankton layers deep beneath the eastern part of the Bight -- which serves to support the rich marine biodiversity even when the surface phytoplankton blooms disappear at certain times of the upwelling season.

Shares in Southeast Asian internet company Sea Ltd. are selling off again, after a raft of bad news this week. The e-commerce, videogaming and ...

At Tuesday’s close it had a market cap of $43 billion, down from a peak of more than $200 billion last fall.\n\nSea reported a $931 million quarterly net loss Tuesday, widening from $434 million a year earlier, and said it wouldn’t give guidance for e-commerce revenues for the rest of this year. are selling off again, after a raft of bad news this week.\n\nThe e-commerce, videogaming and digital-finance company’s American depositary receipts are down more than 9%, building on a 14% drop in the previous session. Investors are also concerned that investor Tencent, which sold about $3 billion of Sea stock in January, could offload more, as it looks to sell out of another investee company, Meituan.\n\nWhile a Tencent selldown is a risk, Sea is a crucial partner for Tencent in distributing games internationally, said Samuel Tan, an analyst at Maybank.

With profitability still years away, Sea Limited's ceasing of sales guidance will weigh on the stock.

For these investors, the announcement that Sea is eschewing sales guidance is probably going to come as a disappointment. That's not necessarily a bad thing, however; in fact, Sea did beat analyst expectations for earnings in Q2, reporting a loss of $1.03 per share instead of the $1.19 per-share loss that Wall Street had anticipated. According to the consensus of analysts polled by The good news is that Daiwa's was the only downgrade Sea suffered today, and while BofA and Citi -- and Stifel as well -- did cut their price targets, according to ratings news reporter TheFly, each of these latter three investment banks still maintains a "buy" rating on Sea stock. And longer term, in this banker's view, Sea remains "well placed to dominate" e-commerce in Southeast Asia. Adding insult to injury, Daiwa Securities cut its price target by $30, to $80, and also

CGS-CIMB believes Shopee's gross merchandise value (GMV) could remain weak in the near term after its parent company Sea suspended FY2022 revenue guidance ...