Sea Limited reported mixed Q2 earnings, sending shares to new 52-week highs. All three business units are seeing accelerating growth. All three business units are seeing improved profitability.
BofA Securities analyst Sachin Salgaonkar reiterated the Buy rating on Sea Limited SE, raising the price objective to $84 from $77.
Sea Limited's (SE) second-quarter 2024 results benefit from a solid uptick in e-commerce, digital financial services businesses and a robust content ecosystem.
Sea Limited's profitable growth story might be back on track.
Shares of Sea Limited (SE), the Singapore tech conglomerate that runs online shopping website Shopee, soared Tuesday after the company reported double-digit revenue growth in all its business segments for the second quarter.
Sea Limited beat on Q2 revenue but missed on earnings. Importantly, its hit game "Free Fire" appears to be on the rise again.
Sea Limited (NYSE:SE ) Q2 2024 Earnings Conference Call August 13, 2024 7:30 AM ET Company Participants Miang Chuen Koh - Investor Relations Director Forrest Li - Chairman and Chief Executive Officer Tony Hou - Chief Financial Officer Conference Call Participants Pang Vittayaamnuaykoon - Goldman Sachs Piyush Choudhary - HSBC Marissa Putri - UBS Alicia Yap - Citigroup Ellie Jiang - Macquarie Divya Kothiyal - Morgan Stanley Sachin Salgaonkar - Bank of America Thomas Chong - Jefferies Jiong Shao - Barclays Operator Good morning, and good evening to all, and welcome to the Sea Limited Second Quarter 2024 Results Conference Call. All lines have been placed on mute to prevent any background noise.
Sea Limited (NYSE: SE ), a Singapore-based company that owns the Shopee e-commerce site, is seeing its stock surge over 10% this morning after reporting earnings. Sea reported net income of $331 million, 54 cents per share fully diluted, on revenue of $3.1 billion for the three months ending in June.
Sea Limited (SE) reportedly increases the commissions it charges merchants by approximately a third since the beginning of the year in several key markets.
Although the revenue and EPS for Sea Limited (SE) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Sea Limited (SE), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.
Sea Limited stock has rallied 80% YTD, limiting upside and increasing risk due to competition, making it less attractive for short-term investors. The company's triple-sided growth in digital financial services, e-commerce, and digital entertainment segments in Southeast Asia shows strong potential for long-term growth. Valuation driven by multiples expansion rather than intrinsic growth, with the possibility for correction to bring multiples back to more moderate levels.