Why Sea Limited Stock Blasted 21% Higher This Week
Shares of Sea Limited (NYSE: SE) charged sharply higher this week, gaining as much as 23.2% compared to last Friday's closing price. As of 12:36 p.m. ET Thursday, the stock was still up 21%.
The catalyst that sent the e-commerce and digital entertainment specialist higher was its quarterly financial report, which was not only much better than expected, but it saw the company swing to an unexpected profit.
For the fourth quarter, Sea Limited generated revenue of $3.5 billion, up 7% year over year. The headline, however, was the company's bottom line, which swung to a profit of $423 million, compared to a loss of $616 million in the prior-year quarter. This resulted in earnings per share (EPS) of $1.01.
Source Fool.com
