$Sea Ltd(SE)$ "We see SEA to continue to experience challenges in top-line growth because of inflation, competition with TikTok, and weak performance of Free Fire. Yet, the losses will be better managed." - Shawn Yang (Blue Lotus Research Institute)

Key Points:
* We estimate SEA’s 4Q22 revenue to be largely in line with cons., while non-GAAP net loss to be narrower than cons.
* We see SEA to continue to experience challenges in top-line growth because of inflation, competition with TikTok, and weak performance of Free Fire. Yet, the losses will be better managed.
* We slightly raise SE’s TP by 6% to US$55 to reflect 4Q22’s margin beat, yet maintain SELL because of the mid-to-long-term challenges.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • YueShan
    ·2023-02-17
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    ·2023-02-17
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    ·2023-02-17
    thanks for sharing
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    ·2023-02-17
    Ok
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    ·2023-02-17
    ok
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    ·2023-02-17
    👌
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    ·2023-02-17
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    ·2023-02-17
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    ·2023-02-17
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    ·2023-02-17
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    ·2023-02-17
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    ·2023-02-17
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