Technology firm Sea Ltd (SE.N)

2023-08-15

Technology firm Sea Ltd (SE.N) missed estimates for second-quarter revenue on Tuesday, as consumers held back spending on Internet and discretionary services, sending its U.S.-listed shares down 12% in trading before the bell.

Tepid spending amid a challenging macroeconomic outlook pressured Sea's e-commerce business Shopee and caused a steep decline in its mobile gaming business.

After a meteoric run in 2020 and part of 2021, with multiple quarters of triple-digital revenue increases, Sea's growth tapered as the pandemic-fueled boom in e-commerce and digital entertainment waned.

Will Sea continue to go up as TikTok shuts shop?

Sea Limited continued to jump 6% yesterday after the Indonesia's government ban. Social media app TikTok is suspending its online shopping service in Indonesia to comply with new rules. ---------------------- Do you think Sea will continue to rally or not? What's your target price for Sea?

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