Market News

Sea Limited Shares (NYSE: SE) Surge over 40% after Earnings Beat

Shares of Sea Limited (NYSE: SE) surged more than 40% after it reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at -$0.66, which beat analysts’ consensus estimate of -$1.04 per share.

In addition, sales increased by 18.5% year-over-year, with revenue hitting $3.2 billion. This beat analysts’ target by $190 million.

Looking ahead, management revised its guidance for digital entertainment revenue downwards, citing macroeconomic uncertainties. Indeed, the new range is between $2.6 billion and $2.8 billion. For reference, the previous guidance was between $2.9 billion to $3.1 billion.

Is SE Stock a Buy or Sell?

SE stock has a Strong Buy consensus rating based on nine Buys, two Holds, and zero Sells assigned in the past three months. The average SE stock price target of $100 implies almost 54% upside potential.

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