Sea Limited (NYSE: SE)
Sea Limited recently reported its fourth quarter and full-year 2023 earnings. It was the first time that the e-commerce player registered a full-year profit, marking a milestone for the company since it was listed back in October 2017. Revenue for 2023 rose 4.9% year on year to US$13.1 billion. Sea Limited’s digital entertainment division led by Garena saw a year-on-year decline in revenue that was offset by higher year-on-year revenue from its e-commerce division, Shopee. Gross profit improved by 12.5% year on year to US$5.2 million. Sea Limited ended 2023 with an operating and net profit of US$224.8 million and US$162.7 million, respectively, reversing the previous year’s losses. The gaming company also generated a positive free cash flow of US$1.84 million, a sharp reversal from the free cash outflow in 2022. For Garena, the number of quarterly active users rose nearly 9% year on year to 528.7 million for the fourth quarter of 2023 (4Q 2023)....Welcome to this week’s edition of top stock market highlights.
