5 Earnings Reports You Don’t Want to Miss

2. Sea Limited (NYSE:SE)

Number of Hedge Fund Holders: 108

Shares of Sea Limited (NYSE:SE) lost more than 13 percent of their value on Tuesday, March 1, 2022, after its fourth-quarter earnings fell short of expectations. The consumer internet company reported an adjusted loss of 88 cents per share, wider than analysts’ average estimate for a loss of 59 cents per share.

On the bright side, revenue for the quarter skyrocketed 105.7 percent versus last year to $3.22 billion and surpassed expectations of $2.91 billion. Sea Limited (NYSE:SE) also disclosed its segment-wise sales performance. Revenue from the Digital Entertainment segment climbed 104.1 percent to $1.4 billion in the quarter, while E-commerce revenue jumped 89.4 percent to $1.6 billion. In comparison, revenue from Digital Financial Services skyrocketed 711.1 percent to $197.5 million.

Looking forward, Sea Limited (NYSE:SE) expects e-commerce revenue in the range of $8.9 – $9.1 billion for FY 2022. The mid-point of the guidance represents a surge of 75.7 percent over 2021.

Discussing the results, CEO Forrest Li said:

“In 2021, we continued to focus on sustainable growth and serving the fast growing and evolving demands and needs of our communities. With our growing scale, market leadership and strong cash balance, we believe we are well placed to increasingly leverage efficiencies across our ecosystem for growth and manage the levers of our business to reach profitability across more markets and segments in 2022 and beyond.”