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Sea Limited Q3 2022 Earnings Highlights

[Rewards] Sea achieved a record Q3 revenue with net loss narrowed, spiking on e-commerce
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Sea Limited Q3 2022 Earnings Highlights
Sea Limited Q3 2022 Earnings Highlights
KEY Figures:
● Total Q3 2022 revenue of Sea Limited was $3.2 billion, up 17.4% year-on-year.
● Total net loss was $(569.3) million, improving by 38.9% quarter-on-quarter, but flat YoY.
● Total adjusted EBITDA was $(357.7) million, compared to $(165.5) million for Q3 2021, and improving by 29.4% QoQ.
● For the E-commerce sector, GAAP revenue was 1.9 billion, which included $1.6 billion of marketplace revenue, up 32.4% YoY.
● GMV was $19.1 billion, with an increase of 21.4% YoY based on constant currency assumptions.
● For the Digital Entertainment sector, GAAP revenue decreased 18.8% to $892.9 million, compared to $1.1 billion in Q3 2021.
More statistics:
Sea Limited Q3 2022 Earnings Highlights
*EC=E-commerce segment; DE=Digital Entertainment segment; DFS=Digital Financial Services segment; Adjusted EBITDA is a measure computed for a company that takes its earnings and adds back interest expenses, taxes, and depreciation charges, plus other adjustments to the metric.

KEY Points:
● Facing significant macro uncertainties, Sea management decided to shift focus from growth to achieving self-sufficiency and profitability without relying on external funding.
● Sea Limited is currently working towards adjusted EBITDA breakeven for Shopee by the end of 2023.
● The number of brands on Shopee Mall continued to grow strongly by 36% YoY to over 42 thousand, reflecting more brands recognizing Shopee's value.
● For Digital Entertainment, Sea expects bookings for the FY2022 to be between $2.6 billion and $2.8 billion, compared to a previous guidance of between $2.9 - $3.1 billion.
● For Digital Financial Services, the non-performing loans due more than 90 days represented about 4% of Sea's total gross loans.
● Sea Limited laid off more than 7,000 employees over the past six months to improve its profitability.

The KEY in your hands:
According to Morningstar, by November 15 2022, SE's share had dropped approximately 70% since the start of 2022, underperforming the S&P 500 (.SPX), which is about a 17% decline in the same period.
Therefore, how do you see Sea Limited currently? What's your opinion or analysis about it? Speak out with mooers and get inspired by sharing!
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For more information:
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