Internet service company in Southeast Asia sea ltd (SE) broke down on Tuesday after reporting second-quarter revenue that missed analyst estimates. SE stock fell more than 25% in early trade.
The Singapore-based company reported earnings of 54 cents per share for the quarter ended in June on revenue of $3.1 billion. However, analysts polled by FactSet expected sales of $3.26 billion.
In the year-ago period, Sea lost $1.67 per share on sales of $2.9 billion..
Sea operates businesses in digital entertainment, e-commerce, digital payments and financial services – under the Garena, Shopee and SeaMoney names.
SE stock is weak IBD composite classification of 45, and even weaker a relative strength rating of 15.
More is coming.
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