Is It Too Late to Buy Sea Limited Stock?
Sea Limited's (NYSE: SE) stock sank 29% to a new 52-week low on Aug. 15 after it posted a disappointing second-quarter report. The Singapore-based gaming, e-commerce, and fintech company's revenue rose 5% year over year to $3.1 billion, which missed analysts' estimates by $150 million.
It posted a net profit of $331 million, compared to its loss of $931 million a year ago, as its earnings of $0.54 per share beat the consensus forecast by $0.08. That marked its third consecutive quarter of profitability on the basis of generally accepted accounting principles (GAAP), but its soft sales growth overshadowed that progress. Let's review Sea's biggest challenges and find out if it's too late to bet on its long-term recovery.
Image source: Getty Images.
Source Fool.com
