Sea’s Shares Hit Two-Year Peak After Shopping Arm’s First Profit

Bloomberg11-13

(Bloomberg) -- Sea Ltd.’s stock soared to its highest in more than two years after its e-commerce business posted its first adjusted profit, a sign it’s holding its own against bigger Chinese rivals ...

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The Singapore-based company reported overall net income that topped estimates at $153.3 million, as well as a better-than-projected 31% rise in revenue to $4.3 billion for the September quarter.Sea’s profit is set to expand further as recovery in its game-publishing business adds to improving bottom-line in its e-commerce unit Shopee, which broke even in 3Q — on an adjusted Ebitda basis — as expected. A strong player base in its Free Fire game, which drives about 70% of mobile game revenue according to Sensor Tower, might push digital entertainment segment bookings 20%-30% higher se","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4548":"巴美列捷福持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4565":"NFT概念","SG9999013478.USD":"利安新加坡股息基金","BK4554":"元宇宙及AR概念","IE00B0JY6N72.USD":"PINEBRIDGE GLOBAL EMERGING MARKETS FOCUS EQUITY \"A\" (USD) ACC","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","SG9999006266.SGD":"MANULIFE SINGAPORE EQUITY \"A\" (SGD) ACC","BK4531":"中概回港概念","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4585":"ETF&股票定投概念","BABA":"阿里巴巴","BK4534":"瑞士信贷持仓","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","SG9999001135.SGD":"United ASEAN Fund SGD","09988":"阿里巴巴-W","BK4566":"资本集团","BK4558":"双十一","SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","BK4587":"ChatGPT概念","BK4575":"芯片概念","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","BK4527":"明星科技股","BK4588":"碎股","LU0821914370.USD":"贝莱德亚洲成长领袖A2","LU0261945553.USD":"FIDELITY ASEAN \"A\" ACC","BK4526":"热门中概股","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","LU0797268264.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (HKD) ACC","LU1046421795.USD":"富达环球科技A-ACC","IE00BMPRXQ63.HKD":"NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND \"A\" (HKDHDG) ACC","BK4551":"寇图资本持仓","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","SE":"Sea Ltd","BK4502":"阿里概念","SG9999002620.SGD":"LionGlobal South East Asia SGD","BK4505":"高瓴资本持仓","SKIS":"Peak Resorts, Inc.","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0651946864.USD":"贝莱德新兴市场股票收益A2","BK4581":"高盛持仓","LU0251143458.SGD":"Fidelity Emerging Markets A-SGD","SG9999002406.SGD":"利安新加坡信托基金","IE00BFMHRM44.USD":"NEUBERGER BERMAN GLOBAL EQUITY MEGATRENDS \"A\" (USD) ACC"},"translate_title":"购物部门首次盈利后Sea股价创两年新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKIS":1,"SE":0.9,"BABA":0.85,"09988":0.6},"content_text":"(Bloomberg) -- Sea Ltd.’s stock soared to its highest in more than two years after its e-commerce business posted its first adjusted profit, a sign it’s holding its own against bigger Chinese rivals like Alibaba Group Holding Ltd.\nIts US shares climbed 10.5%, the biggest gain since August. The Singapore-based company reported overall net income that topped estimates at $153.3 million, as well as a better-than-projected 31% rise in revenue to $4.3 billion for the September quarter.\nThe results alleviate some concerns about the prospects for online retail arm Shopee, which is fighting ByteDance Ltd.’s TikTok and Alibaba’s Lazada across Southeast Asia. The two Chinese companies have adopted AI features including chatbots and other tools for sellers on their platforms, trying to erode Shopee’s dominance. Newer contenders like Shein and PDD Holdings Inc.’s Temu are also targeting a region of more than 675 million people where more shoppers are moving online.\n“As we continue to focus on delivering growth, we expect Shopee to remain profitable going forward,” Chief Executive Officer Forrest Li said in a statement.\nShopee’s adjusted earnings before interest, taxes, depreciation and amortization reached $34.4 million, following years of losses. Sea’s smaller but more profitable gaming unit, Garena, had supported the company’s finances as it built out its e-commerce operations.\nThe volatile e-commerce market is reflected in Sea’s share price, which had more than doubled in 2024 after plunging for two years. Once one of Asia’s hottest startups and e-commerce players before losing steam, the company is now trying to convince investors of its long-term earnings potential.\nDespite fierce competition, Sea has raised the commissions it charges merchants in many core markets by about a third since the start of the year. The hikes, which bring Shopee’s fees far above its rivals, show that Sea is confident it can attract and retain merchants, helped by a broad user base and well-established delivery services.\nSea’s e-commerce gross merchandise volume, or the value of goods sold, climbed a higher-than-estimated 25% to $25.1 billion in the third quarter. The company expects to reach a billion active users for e-commerce, Li said during a conference in Singapore last week, without specifying a time frame.\nThe earnings report “demonstrates operating efficiency and management execution towards balancing between growth and profitability,” Citigroup analyst Alicia Yap said in a note. Sea posted a “solid beat in e-commerce order volume and GMV growth.”\nWhat Bloomberg Intelligence Says\nSea’s profit is set to expand further as recovery in its game-publishing business adds to improving bottom-line in its e-commerce unit Shopee, which broke even in 3Q — on an adjusted Ebitda basis — as expected. A strong player base in its Free Fire game, which drives about 70% of mobile game revenue according to Sensor Tower, might push digital entertainment segment bookings 20%-30% higher sequentially in 4Q, vs. 3Q’s 3.7%.\nA shift toward local marketplace model and in-house logistics bode well for advertising sales, helping its Brazil e-commerce’s bottom-line strengthen. An additional profit boost could come from financial services as it makes larger loan sizes to high quality borrowers.\n-Nathan Naidu, analyst\nClick here for research\nIn September, Shopee struck a pact with Alphabet Inc.’s YouTube in Indonesia, betting the video platform will help it attract more shoppers and stay ahead of rivals in its biggest market.\nBeyond Southeast Asia, Shopee is gaining steam in its newer market Brazil. The number of average monthly active buyers there grew by close to 40% year-on-year last quarter, Li said on a conference call. That helped the company break even for the first time in that market too on adjusted Ebitda basis, he said.\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483012843"}