Sea

Sea Limited (NYSE: SE) (“Sea” or the “Company”) today announced its financial results for the fourth quarter and full year ended December 31, 2022. “W.

Amounts are expressed in thousands of US dollars (“$”). (1) The Company adopted ASU 2020-06 on January 1, 2022 using modified retrospective method and the cumulative effects have been adjusted via retained earnings opening balance. Amounts are expressed in thousands of US dollars (“$”) 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. Non-operating income or losses mainly consist of interest income, interest expense, investment gain (loss), and foreign exchange gain (loss), and gain (loss) on debt extinguishment. We had a net income tax expense of US$168.4 million and US$332.9 million for the full year ended December 31, 2022 and 2021, respectively. Our general and administrative expenses increased by 45.5% to US$1.4 billion for the full year ended December 31, 2022 from US$987.9 million for the full year ended December 31, 2021. The income tax credit was primarily due to recognition of deferred tax assets from carried forward losses for our e-commerce business, partially offset by income tax incurred by our digital entertainment business. Other operating income mainly consists of rebates from e-commerce related logistics services providers. (2) Unallocated expenses within total adjusted EBITDA are mainly related to general and corporate administrative costs such as professional fees and other miscellaneous items that are not allocated to segments. 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. Total net income was:

Sea Ltd. delivered a surprise profit as it crushed expectations for sales and earnings in the fourth quarter. SE stock jumped.

[IBD Stock Checkup](https://research.investors.com/stock-checkup/nyse-sea-adr-se.aspx). The best growth stocks have a Composite Rating of 90 or better. In the year-earlier period, Sea lost $1.12 cents on sales of $3.22 billion. SE stock jumped on the news. It has a subpar [IBD Composite Rating](https://www.investors.com/how-to-invest/investors-corner/how-to-research-growth-stocks/) of 38 out of 99. Analysts had expected Sea to report a loss of 64 cents a share on revenue of $3.05 billion.

(Bloomberg) -- Sea Ltd. soared after reporting its first-ever profit, a milestone in the Southeast Asian gaming and e-commerce giant's effort to convince ...

Are services from this company becoming more top-of-mind in its core markets?

However, I was wrong: Sea primarily achieved profitability thanks to one big decision, and it bodes well for the company's future. And that's why Sea stock was up today. In the fourth quarter of 2022, Sea generated revenue of almost $3.5 billion, which was up 7% year over year and far exceeded Wall Street's expectations.

Consumer internet company Sea Limited (NYSE: SE) reported fourth-quarter FY22 revenue growth of 7.1% year-on-year to $3.45 billion, beating the consensus of ...

One of Tuesday's biggest premarket movers hails from Singapore. American depositary receipts for Sea, a consumer-internet conglomerate, are up about 22%.

Sea said net income was $426.8 million in the fourth quarter while analysts had expected a loss of US$434 million on average. Read more at straitstimes.com.

Much of the profit reported on Tuesday came from brutal cost cuts - a more than US$700 million reduction in marketing expenses alone - and on-paper gains from the way it accounted for debt and certain types of expenses. Sea still faces deep-pocketed competitors in all of its main businesses, from Alibaba Group Holding’s Lazada to TikTok Shop in e-commerce and a slew of up-and-comers in digital finance. Analysts expected a loss of US$434 million on average.

(Bloomberg) -- Sea Ltd.'s stunning 22% pop tacked on more than $900 million to the personal wealth of founder Forrest Li, a vindication for the Chinese-born ...

Digital gaming and e-commerce firm Sea Ltd. posted its first-ever quarterly profit, sending its New York-listed shares soaring overnight.

[Gang Ye](https://www.forbes.com/profile/gang-ye/?sh=46801e397c76) and [David Chen](https://www.forbes.com/profile/david-chen/?sh=77ff93f755fd) in 2009, the year the trio launched online gaming platform Garena. “As we continue this transition and maintain our focus on sustainable growth, our approach is to do less but do it better as we serve our users across our digital ecosystem,” Li said. The stock rally boosted Li’s net worth to over $5 billion, compared with $4.2 billion when the list of Singapore’s 50 Richest was last published in September, Forbes data showed. Shopee has largely pulled back from its global expansion drive, shutting down operations in India and Europe to focus on key markets in Southeast Asia, Taiwan and Brazil. The turnaround in the fourth quarter helped narrow Sea’s full-year net loss to $1.7 billion from $2 billion in the previous year. While digital entertainment remains Sea’s most profitable business, contributions have dwindled after India banned its flagship mobile game Free Fire in February.

With Garena in free fall and Shopee's growth grinding to a halt after spending cuts and layoffs, Sea has managed to find a billion dollars somewhere and ...

This is a really impressive turnaround, accomplished in a very short period of time. It has managed to establish itself well enough to be the default online store for millions — and not a moment too early, as it needed to achieve self-sustainability in the face of less favourable economic conditions and the stock market slump which precludes raising any external funding. But given its overall growth trajectory and bump in orders that is expected each year on the back of Christmas, Black Fridays, Singles’ Day and so on, it means the company may have lost a total of half a billion orders — very nearly a quarter — of what it otherwise could have expected. The number of orders placed on Shopee dropped by 12 per cent compared to Q4 2021 — and that is despite the fact that it it is the busiest sale and holiday period in the entire year. It’s no surprise then that, on the whole, operating profits are down by more than half in Q4 and by nearly a quarter across the entire year (with EBITDA in both periods considerably below 50 per cent of what it was in 2021). What is even more remarkable, perhaps, is that it has managed to pull it off while recording a general drop in business (some of it self-inflicted, due to necessary cuts) — including its usual moneymaker, the digital entertainment arm Garena.

Tech giant Sea posted a quarterly profit for the first time as the company pledged to move towards profitability last quarter.

"In our Asia markets, we will work to further strengthen our leading position and profitability. "As a result, we began to see meaningful improvements in the bottom line." Positive EBITDA, or earnings before interest, taxes, depreciation and amortization, refers to the company operating at a profitable level. Most recently, it announced that it will be expanding its presence in Malaysia, according to We exited or downsized operations in non-core markets, streamlined our game pipeline with divestments and project closures, and deprioritized non-core initiatives," the CEO said. "However, there are still some macro headwinds and declining gross merchandize value (GMV) trends that could further delay its path to profitability," said Woo. "Given the macro uncertainty and our recent strong pivot, we are closely monitoring the market environment and we will continue to adjust our pace and fine-tune our operations accordingly," said Li. SeaMoney's adjusted EBITDA also turned positive for the first time to $75.6 million for the fourth quarter, driven by improvements in revenue and sales and marketing expenses. "Recent cost-cutting measures like freezing salaries and employee headcount [have] given Sea's stock some much needed reprieve. "We do expect Garena's growth to continue declining moving forward, given the lack of a strong games pipeline, and the continued download ban on Free Fire in India," said Phillip Securities' Woo, adding that quarterly active users and paying users have been dropping in the last five quarters. Given the macro uncertainty and our recent strong pivot, we are closely monitoring the market environment and we will continue to adjust our pace and fine-tune our operations accordinglyForrest Lichairman and group CEO, Sea Limited - "The positive surprise in fourth-quarter 2022 earnings should provide continued upward momentum for Sea – especially with the path to profitability slightly clearer," said Jonathan Woo, senior research analyst at Phillip Securities.

Sea Ltd.'s stunning 22% pop tacked on more than $900 million to the personal wealth of founder Forrest Li.

Singapore technology giant Sea on Tuesday reported its first ever quarterly profit, beating regional tech firms like GoTo and Grab to the punch.

(The author is a Reuters Breakingviews columnist. The opinions expressed are their own. Revenue improved, too, though, rising 7% in the quarter to $3.5 billion. Reducing outlays allowed Shopee, Sea’s e-commerce unit which accounts for about 60% of the top line, to join the financial technology and gaming units in turning a profit on an adjusted EBITDA basis. The company run by Forrest Li slashed sales and marketing expenses alone by $745 million, a whopping 62% drop. The almost $1 billion swing from a fourth-quarter loss in 2021 to a $423 million profit in the final three months of last year is largely down to cost cuts.

Singapore-based Sea on Tuesday (Mar 7) posted its first quarterly profit, as the gaming and e-commerce company benefited from major cost cuts it undertook ...

The company's market capitalisation, too, dropped to US$37 billion after its shares plunged more than 75 per cent last year. Advertisement

Sea Ltd.'s stunning 22% pop tacked on more than $900 million to the personal wealth of founder Forrest Li, a vindication for the Chinese-born internet ...