Is Sea Limited Stock a Buy Now?
$Sea(SE.US$ Sea Limited's stock surged 14% on May 17 after the Southeast Asian tech giant posted its first-quarter earnings report. The company's revenue rose 64% year over year to $2.9 billion, which beat analysts' estimates by $40 million. Its adjusted net loss, which excludes stock-based compensation, widened from $320 million to $445 million, or $0.80 per share, but still exceeded analysts' expectations by $0.60.
Sea's stock price popped after the report but remains down more than 60% this year. Should investors expect that rebound to continue?
Grab reported quarterly revenue of $228 million, up 5.6% year-over-year, beating market expectations. As of press time, Grab was up 7.51% to $2.72 in pre-market. Grab reported a net loss of $435 million in the first quarter, narrowing its loss by 35% year-over-year; diluted loss per share was $0.11, compared with a loss of $3.18 per share in the same quarter last year.
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