Sea Limited Turns To Profit In Q4; Revenue Up 7.1%

(RTTNews) - Sea Limited (SE) reported fourth quarter total net income of $422.8 million, as compared to a loss of $616.3 million for the fourth quarter of 2021. Profit per share was $0.72 compared to a loss of $1.12. On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.79, for the quarter. Analysts' estimates typically exclude special items. Total adjusted EBITDA turned positive to $495.7 million, for the quarter.

Total GAAP revenue was $3.5 billion, up 7.1% year-on-year. Analysts on average had estimated $3.06 billion in revenue.

Digital Entertainment GAAP revenue was $948.9 million compared to $1.4 billion in the fourth quarter of 2021, primarily attributable to the ongoing moderation in user engagement and monetization. E-commerce and other services GAAP revenue increased by 50.5% to $2.2 billion, primarily driven by the improved monetization in e-commerce business and the growth of credit business.

Shares of Sea Limited are up 9% in pre-market trade on Tuesday.

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