Shares of eCommerce and digital services provider Sea Ltd. (NYSE:SE) are rising today after the company delivered a fourth-quarter beat.
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Revenue rose 7.1% year-over-year to $3.45 billion, outperforming estimates by $400 million. While analysts were expecting a net loss per share of $0.64, the company posted an EPS of $0.72 for the period. The company’s focus on efficiency and profitability is paying off with an improving bottom line and it continues to seek sustainable growth.
During the quarter, eCommerce revenue increased by 31.8% with a gross merchandise value (GMV) of $18 billion. While digital entertainment bookings saw a drop, digital financial services revenue surged by 92.5% during this period.
Overall, Wall Street has a consensus price target of $88.17 on SE, implying a hefty 34.18% potential upside in the stock. That’s on top of a 24% gain clocked by the stock so far this year.
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