Sea Shares Down On Wider Q3 Loss

Shares of consumer internet company Sea Ltd. (SE) are currently trading at $77.50, down 72 cents or 0.40% Tuesday morning. The stock has been trading in the range of $35.30 – $187.75 for the past one year. Trading volume is over 1.88 million versus an average volume of 3.70 million shares.

The company, on Tuesday, reported Q3 net loss of $346.05 million or $0.69 per share versus a loss of $175.16 million or $0.38 per share last year. Revenue for the quarter surged 98.7% to $1.21 billion from $610 million generated a year ago. Wall Street analysts estimated a loss of $0.53 per share on revenue of $1.4 billion for the quarter.

Meanwhile, the company raised its revenue guidance for both digital entertainment and e-commerce for the full-year 2020.

For fiscal 2020, the company currently expects revenue for digital entertainment to exceed $3.1 billion and revenue plus sales incentives net-off for e-commerce to exceed $2.3 billion.

Previously, the company expected revenues in the range of $1.9 billion – $2.0 billion for digital entertainment and between $1.7 billion and $1.8 billion for e-commerce.

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