Sea’s Earnings Rebound Is Real, but the Cost Fight Is Not Over
Sea Limited’s latest results were a jumble, but one thing stood out: demand is outpacing what analysts had penciled in. Shares were quoted at $96.13 in pre-market action just after 7:39 a.m. Eastern, a 13% pop from the $85.07 close. First-quarter revenue hit $7.10 billion, topping the $6.46 billion estimate, while earnings per share landed at $0.67—ten cents shy of the consensus. U.S. markets hadn’t opened yet, but the reason for the surge was clear enough.