Why Sea Limited Stock Was Sinking This Week
Earnings seasons both giveth and taketh away. In the case of ambitious Singapore-based tech company Sea Limited (NYSE: SE) this period, it was very much the latter.
The company's latest earnings report on Tuesday revealed a much deeper-than-expected loss. As a result, both investors and analysts cooled notably on the stock. Week to date as of Thursday's market close, Sea Limited's shares were down by nearly 20%, according to data compiled by S&P Global Market Intelligence.
Sea reported fourth-quarter 2021 revenue that more than doubled on a year-over-year basis (to $3.2 billion) and eclipsed the average analyst estimate. That was the good news. The not-so-good news is that the company missed badly on the bottom line, reporting a non-GAAP (adjusted) net loss of almost $485 million. That is an awful lot of red ink.
Source Fool.com
