US Stock Market Move | Q3 revenue exceeded expectations, Sea (SE.US) rose more than 19%.

date
12/11/2024
avatar
GMT Eight
On Tuesday, the stock price of Southeast Asian technology company Sea (SE.US) surged, with the stock rising over 19% to $116.1 as of the time of writing. The company's revenue in the third quarter exceeded expectations, with Sea's revenue increasing by 30.8% to $4.33 billion, surpassing analysts' expectations of $4.08 billion. E-commerce revenue increased by 42.6% to $3.18 billion, digital entertainment revenue was $497.8 million, and digital financial services revenue was $615.7 million, all exceeding expectations. Sea reported a net profit of $153 million in the third quarter, compared to a net loss of $144 million in the same period last year; earnings per share (EPS) were $0.24, in line with analysts' expectations.

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