Sea Limited Sets a Baffling New Goal for Shopee's Profits
Sea Limited's (NYSE: SE) first-quarter earnings report on May 17 allayed some concerns about the Singapore-based tech giant's future. Its revenue rose 64% year over year to $2.9 billion, which beat analysts' expectations by $40 million. Its adjusted net loss widened from $320 million to $445 million, or $0.80 per share, but still topped estimates by $0.60.
I reviewed Sea's earnings report last month and concluded that its stock would remain cheaply valued (at about three times this year's sales) until it meaningfully narrowed its net losses.
Image source: Getty Images.
Source Fool.com