Sea Limited (NYSE:SE) stock is up on Tuesday after releasing its earnings report for the fourth quarter of 2020.
This comes despite Sea Limited missing estimates for the quarter, which includes adjusted losses per share of 87 cents on revenue of $1.57 billion. For comparison, Wall Street was looking for adjusted losses per share of 54 cents on revenue of $1.91 billion.
While its losses and revenue couldn’t meet estimates, investors in SE stock are still pleased with year-over-year growth. That includes a 64.2% for adjusted losses per share compared to 87 cents. It also covers a 101.6% gain over the company’s revenue of $777.24 million in Q4 2019.
Sea Limited also includes guidance for the full year of 2021 in its most recent earnings report. The company is expecting e-commerce revenue for the year to come in between $4.5 billion and $4.7 billion. At the midpoint, that represents a 112.3% increase compared to 2020 e-commerce revenue.
SEA stock performing well after its earnings report shows that investors are willing to wait for strong results. Interest in the company continues to be high despite it not expecting to report a profit until 2023.
Investors that are looking to brush up on Sea Limited are in luck. InvestorPlace has a breakdown of the company that they can check out by following this link.
SE stock was up 7% as of Tuesday morning and is up 35.5% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2021/03/se-stock-why-digital-entertainment-and-e-commerce-play-sea-limited-is-surging-today/.
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Read More: SE Stock: Why Digital Entertainment and E-Commerce Play Sea Limited Is Surging Today