Sea Limited (NYSE:SE) stock is rowing higher on Tuesday following positive results in its most recent earnings report.
Let’s jump into the earnings report for Q2 2021 that has SEA on the rise today below!
- Sea Limited starts off the earnings report with adjusted losses per share of 61 cents.
- This is, admittedly, not a positive as Wall Street was looking for -52 cents per share.
- However, it is a 10.3% improvement over the company’s adjusted losses per share of 68 cents from the second quarter of 2020.
- It also doesn’t hold SE stock back as a strong revenue of $2.28 billion carries it forward.
- That easily comes in above analysts’ revenue estimate of $1.93 billion for the period.
- In addition to that, it’s a 158.6% jump from the company’s revenue of $882,034 from the same time last year.
- Sea Limited also saw operating loss shrink 10.4% year-over-year from $372,808 to $334,016.
- An updated guidance is another boon to SE stock today.
- The company is expecting e-commerce revenue for 2021 to range from $4.7 billion to$4.9 billion.
- At the midpoint of that guidance, that represents a 121.5% growth compared to 2020 e-commerce revenue.
- Sea Limited also expects bookings for digital entertainment to come in between $4.5 billion and $4.7 billion in 2021.
- That’s a 44.4% gain at the midpoint compared to 2020 digital entertainment bookings.
- SE stock is already seeing heavy trading this morning with some 3.3 million shares on the move.
- That’s above the company’s daily average trading volume of about 3 million shares.
SE stock was up 8.1% as of Tuesday morning and is up 60.1% since the start of the year.
Investors interested in more stock market news this morning will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.