What happened?
Sea Limited released its third quarter 2023 (3Q 2023) earnings this week.
The e-commerce cum gaming player’s shares proceeded to plunge 22% to close at US$35.87 on 14 November.
Source: WebullYear-to-date, shares of Sea Limited are down more than 32% and are trading close to its 52-week low of US$34.87.
In the previous quarter, Sea Limited also saw its share price taking a hit after the company warned that investments into Shopee may lead to losses down the road.
Investors may be wondering if the worst might be over for Sea Limited.
We dive deeper into the company’s numbers and operating statistics to try to determine this.
What investors may not like about Sea Limited’s earnings
#1 – Incurred a net loss after three consecutive quarters of profitability
For 3Q 2023, Sea Limited saw total revenue inch up 4.9% year on year to US$3.3 billion.
...
