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DeepNewz, mobile.
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Sea Ltd. reports a smaller-than-expected drop in quarterly earnings, with e-commerce revenue remaining strong despite increasing competition. The company achieved its first profitable year in 2023 and aims for positive EBITDA for Shopee in the second half of 2024. Sea's stock price surged after beating revenue expectations, with Q4 revenue up 4.8% to $3.6 billion and adjusted EBITDA down 74% YoY to $126.7 million due to market expenses.
$SE (+11.2% pre) Sea Shares Jump as Profit Beat Signals E-Commerce Resilience - BBG https://t.co/RKRXbd7qXb
$GSL (+3.0% pre) Global Ship Lease Non-GAAP EPS of $2.49 beats by $0.14, revenue of $178.9M beats by $5.19M - SA https://t.co/JqRkRHVANL
$SE is bid up 12% to $57.40 pre-market on stellar revenue due to resurgent e-commerce strength. We made some good cash on this one! 😎 https://t.co/gD27vWwsWo https://t.co/j3j5NjGmjT
