- Sea Limited SE Shares traded lower on Tuesday after announcing disappointing first-quarter results. The Alibaba Group Holding Limited BABA The competitor reported revenue growth of 4.9% year over year to $3.04 billion in the first quarter of FY23, missing the $3.06 billion consensus.
- digital entertainment Revenue fell 52.5% year over year to $539.69 million and bookings were $462.3 million versus $543.6 million a year earlier. Segment-adjusted EBITDA was $230.1 million compared to $258.2 million in the prior year.
- Quarterly active users were 491.6 million, compared to 485.5 million in the previous quarter.
- Average bookings per user were $0.9 compared to $1.1 a quarter ago.
- Ecommerce Other services revenue grew 36.3% year over year to $2.1 billion. Adjusted EBITDA for Shopee as a whole was $207.7 million compared to $($742.8) million in the prior year.
- Marketplace revenue increased 45.5% year over year.
- Digital Financial Services Revenue grew 75% year over year to $412.8 million.
- Adjusted earnings per share of $0.35 missed that Consensus of $0.39. Sea Ltd had $7.2 billion in cash and equivalents.
- The company recorded a $117.9 million goodwill impairment related to its previous acquisition.
- Price promotion: SE shares were trading 17.46% lower at $72.76 at last check on Tuesday.
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