Shares & Derivatives
SEA of disappointment with one-ply profit margin
By Dr Wealth  •  May 17, 2023
Since the lows in November, Sea Limited’s (NYSE: SE) share price has more than doubled from $40.66 to $88.07 at the close before its 1Q23 earnings was released. This is quite remarkable considering less than a year ago, Sea’s cash burn pulled the company’s sustainability into question. In September 2022, the company announced significant cost cutting measures and its CEO and top management would not take any cash compensation until the company reached self-sufficiency. Perks were significantly reduced, business class flights were banned, hotel and meal expenses were capped and anecdotes indicated that toilet paper in restrooms was reduced to one-ply. Since then, the efforts have paid off, delivering strong 4Q22 results to closeout FY22 with revenue and earnings beating expectations. Sea continued on a positive note, maintaining profitability in 1Q23, albeit in a weaker fashion. In our previous writeup, we said: “Some of us may get the feeling that Sea has exhaust all...
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By Dr Wealth
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