Sea Misses Profit Estimates, Showing Turnaround Still Fragile

Bloomberg2023-05-16

Gaming and e-commerce firm only recently reached breakevenSoutheast Asia firm took dramatic measures to slash costsSea Ltd.’s earnings missed estimates after gaming revenue plunged 43% and it ...

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Comments

Henryee18
2023-05-17
Henryee18
$Sea Ltd(SE)$ Hahahaha, this is why your discount voucher sucks! I hate your strategies with lousy discounts tagged to your silly Shopeepay only. Throw this stupid strategy please as we all have our own credit cards to match with the cash backs
- Tongdadd:
  I have since moved most of my purchases to Lazada
- SPACE ROCKET:
  Precisely! Well said. Super annoyed with vouchers tied to shoppeepay only. Makes us wanna look elsewhere. Even the free shipping voucher only works if you use shoppeepay. Like er. Not sincere.
Alice Arnault
2023-05-16
Alice Arnault
But another possible theory cld be that the salary hike was just a ruse to increase the prices so that team can exercise their options for the sell out that wld still be worth it given it can easily do some headcount adjustments
Alice Arnault
2023-05-16
Alice Arnault
I think this most likely is expected within the board, the long term trend cld still be recovery if not the board wldnt have increase its salary expenditure
- Optionspuppy:
  Hope so
Ken3888
2023-05-16
Ken3888
Damn shit
AdelGYS
2023-05-16
AdelGYS
Buy low

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Despite posting its second consecutive quarterly profit, revenue grew just 5% and a goodwill impairment charge slashed net income to $88.1 million, missing the $224.4 million analysts expected.Singapore-based Sea, the largest of Southeast Asia’s internet firms and briefly the world’s best-performing stock, has embarked on a brutal cost-cutting drive to reverse years of losses. The company, which grew at triple-digit percentage rates just two years ago, cut thousands of jobs, froze salaries and slashed hundreds of millions of dollars in sales and marketing expenses in a bid to trim costs and reach positive cash flows.This marked a stark shift from its previous stance in spending for global expansion, as the gaming and e-commerce company struggled to convince investors of its money-making potential. Last year was one of the most difficult for Sea investors since the company was founded in 2009 — the gaming and e-commerce giant lost about $150 billion of its value since a peak in October 2021 as the world turned against money-losing tech companies like Sea.The quarterly performance of Sea’s various divisions was mixed. Revenue from Shopee, Sea’s e-commerce unit, gained 36% to about $2.1 billion. Sales at gaming arm Garena slumped 43% to $540 million, while revenue from SeaMoney, the digital financial services business, rose 75%.Last week, Sea said it would hand out 5% raises to most staff. The company has now more than doubled its market value since November.Still, Sea and its regional peers Grab Holdings Ltd. and GoTo Group continue to face challenges in an era of slowing economic growth, rising costs and a decline in technology company valuations. 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Sea and Grab should have enough cash to burn for 21 and 17 quarters, while GoTo’s cash could last at least five more quarters if its cost-cutting goal is met.”-Nathan Naidu, analyst","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9970814661,"gmtCreate":1684258358053,"gmtModify":1684258697942,"author":{"id":"3561088065415396","authorId":"3561088065415396","name":"Henryee18","avatar":"https://static.tigerbbs.com/68e1124a4989ce380d6aa143a07b2620","vip":1,"hat":"https://static.tigerbbs.com/3b7820dfed76481d8dc4de6ac5a7a136","crmLevel":9,"crmLevelSwitch":1,"idStr":"3561088065415396","authorIdStr":"3561088065415396"},"htmlText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$&nbsp;</a><v-v data-views=\"0\"></v-v>Hahahaha, this is why your discount voucher sucks! I hate your strategies with lousy discounts tagged to your silly Shopeepay only. Throw this stupid strategy please as we all have our own credit cards to match with the cash backs","listText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$&nbsp;</a><v-v data-views=\"0\"></v-v>Hahahaha, this is why your discount voucher sucks! I hate your strategies with lousy discounts tagged to your silly Shopeepay only. Throw this stupid strategy please as we all have our own credit cards to match with the cash backs","text":"$Sea Ltd(SE)$ Hahahaha, this is why your discount voucher sucks! I hate your strategies with lousy discounts tagged to your silly Shopeepay only. Throw this stupid strategy please as we all have our own credit cards to match with the cash backs","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9970814661","repostId":1188831846,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":106364893,"gmtCreate":1684409752218,"gmtModify":1684409758802,"authorId":3563665738915585,"author":{"id":3563665738915585,"idStr":"3563665738915585","authorId":3563665738915585,"name":"Tongdadd","avatar":"https://static.tigerbbs.com/79e519b2023d6e7e3b68e295f81f3e8e","vip":1,"currentWearingBadge":{"badgeId":"1f541396f99840fb977d0ab0ce343c94-1","templateUuid":"1f541396f99840fb977d0ab0ce343c94","name":"Weekly Top Contributor","description":"Contributors with best Editor's Picks every week","bigImgUrl":"https://static.tigerbbs.com/271475ceaf67d40016c8cfa16c08c8b3","smallImgUrl":"https://static.tigerbbs.com/5a6336061b9ba82ba9177c7ec476f5f2","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/TW/9000980585","hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.06.26","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":2004},"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9970814661,"type":1,"supId":0,"prevId":0,"content":"I have since moved most of my purchases to <u>Lazada</u>","text":"I have since moved most of my purchases to <u>Lazada</u>","html":"I have since moved most of my purchases to <u>Lazada</u>"},{"id":106363411,"gmtCreate":1684317244164,"gmtModify":1684317250738,"authorId":4093561479903300,"author":{"id":4093561479903300,"idStr":"4093561479903300","authorId":4093561479903300,"name":"SPACE ROCKET","avatar":"https://community-static.tradeup.com/news/8d914d0fac29a13d969545b323fbfe8a","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.06.28","exceedPercentage":"93.79%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":9,"crmLevelSwitch":1,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.10.16","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"},"individualDisplaySort":0,"categoryType":2007}]},"repliedAuthorId":0,"objectId":9970814661,"type":1,"supId":0,"prevId":0,"content":"Precisely! Well said. Super annoyed with vouchers tied to shoppeepay only. Makes us wanna look elsewhere.&nbsp; Even the free shipping voucher only works if you use shoppeepay. Like er. Not sincere.","text":"Precisely! Well said. Super annoyed with vouchers tied to shoppeepay only. Makes us wanna look elsewhere.&nbsp; Even the free shipping voucher only works if you use shoppeepay. Like er. Not sincere.","html":"Precisely! Well said. Super annoyed with vouchers tied to shoppeepay only. Makes us wanna look elsewhere.&nbsp; Even the free shipping voucher only works if you use shoppeepay. Like er. Not sincere."}],"langContent":"EN"},{"id":9970832043,"gmtCreate":1684247041982,"gmtModify":1684247046518,"author":{"id":"4127523291683312","authorId":"4127523291683312","name":"Alice Arnault","avatar":"https://community-static.tradeup.com/news/d4c33c5460824e1c5ea146fa27a62b02","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4127523291683312","authorIdStr":"4127523291683312"},"htmlText":"But another possible theory cld be that the salary hike was just a ruse to increase the prices so that team can exercise their options for the sell out that wld still be worth it given it can easily do some headcount adjustments&nbsp;","listText":"But another possible theory cld be that the salary hike was just a ruse to increase the prices so that team can exercise their options for the sell out that wld still be worth it given it can easily do some headcount adjustments&nbsp;","text":"But another possible theory cld be that the salary hike was just a ruse to increase the prices so that team can exercise their options for the sell out that wld still be worth it given it can easily do some headcount adjustments","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970832043","repostId":1188831846,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9970836676,"gmtCreate":1684246907595,"gmtModify":1684246911487,"author":{"id":"4127523291683312","authorId":"4127523291683312","name":"Alice Arnault","avatar":"https://community-static.tradeup.com/news/d4c33c5460824e1c5ea146fa27a62b02","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4127523291683312","authorIdStr":"4127523291683312"},"htmlText":"I think this most likely is expected within the board, the long term trend cld still be recovery if not the board wldnt have increase its salary expenditure","listText":"I think this most likely is expected within the board, the long term trend cld still be recovery if not the board wldnt have increase its salary expenditure","text":"I think this most likely is expected within the board, the long term trend cld still be recovery if not the board wldnt have increase its salary expenditure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9970836676","repostId":1188831846,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":106362767,"gmtCreate":1684285350341,"gmtModify":1684285356819,"authorId":4089501973615070,"author":{"id":4089501973615070,"idStr":"4089501973615070","authorId":4089501973615070,"name":"Optionspuppy","avatar":"https://static.tigerbbs.com/caf34258aff8afe478620b82647f1199","vip":2,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[{"badgeId":"9427a906234c4b18a82ec3d7730b7fa8-1","templateUuid":"9427a906234c4b18a82ec3d7730b7fa8","name":"Star Contributor","description":"Have published 3 or more picked posts, and have published at least one picked post and participated in comments within 30 days","bigImgUrl":"https://community-static.tradeup.com/news/1866dcf97a73be1c330f85862546aedc","smallImgUrl":"https://community-static.tradeup.com/news/4f5c5fa8e2c7683bb5a7fce8753ee456","redirectLinkEnabled":1,"redirectLink":"https://ttm.financial/activity/market/2023/star-contributors/","hasAllocated":1,"isWearing":0,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.11.05","individualDisplayEnabled":1,"backgroundColor":{"dark":"#675a37","tint":"#f9ebc2"},"fontColor":{"dark":"#ffffff","tint":"#ab7a0e"},"individualDisplaySort":0,"categoryType":2007}]},"repliedAuthorId":0,"objectId":9970836676,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Hope so<span class=\"Apple-converted-space\"> </span></span>","text":"<span class=\"s1\">Hope so<span class=\"Apple-converted-space\"> </span></span>","html":"<span class=\"s1\">Hope so<span class=\"Apple-converted-space\"> </span></span>"}],"langContent":"EN"},{"id":9970899285,"gmtCreate":1684235222747,"gmtModify":1684235626067,"author":{"id":"3581507312795318","authorId":"3581507312795318","name":"Ken3888","avatar":"https://static.tigerbbs.com/493a96d6ecc5aa191181e04cc37afca5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581507312795318","authorIdStr":"3581507312795318"},"htmlText":"Damn shit","listText":"Damn shit","text":"Damn shit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970899285","repostId":1188831846,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9970890954,"gmtCreate":1684233371078,"gmtModify":1684233374103,"author":{"id":"3581174525648411","authorId":"3581174525648411","name":"AdelGYS","avatar":"https://static.tigerbbs.com/6147c611984619a69630f877f8238a7a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3581174525648411","authorIdStr":"3581174525648411"},"htmlText":"Buy low&nbsp;","listText":"Buy low&nbsp;","text":"Buy low","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970890954","repostId":1188831846,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":34,"commentSize":5,"repostSize":7,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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