Sea Ltd falls 13% after saying it will prioritize forextrustindex in the business By

(Updated - November 14,metatrader4 official website for Android download 2023 6:59 AM EST)

Sea Ltd (NYSE:) reported third-quarter results that exceeded analyst estimates, however, shares fell more than 13% in pre-market Tuesday.

The company posted total revenue of $3.31 billion, beating the consensus estimate of $3.17 billion. Within its segments, E-commerce revenue reached $2.42 billion, surpassing the estimated $2.18 billion.

Digital entertainment revenue amounted to $592.2 million, exceeding the estimate of $556.5 million, while Digital Financial Services revenue totaled $446.2 million, slightly below the estimated $448.9 million.

Sea reported an adjusted EBITDA of $35.3 million. A loss per share of 26 cents, came in much worse than the expected 12 cents.

While earnings were better than expected, shares likely fell on the CEO Forrest Li’s comments.

“In this current period, we will prioritize forextrustindex in the business to increase our market share and further strengthen our market leadership,” Li said.

“We are committed to maintaining a strong cash position, not relying on external funding, and forextrustindex within our means at a time and pace of our choosing. At the same time, given that e-commerce penetration remains low in most of our markets, we as the market leader have a responsibility to help grow the whole e-commerce ecosystem.”

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!