- Sea Limited (NYSE:SE) shares are trading lower Tuesday after it disclosed disappointing First-quarter results. The Alibaba Group Holding Limited (NYSE:BABA) rival reported first-quarter FY23 revenue growth of 4.9% year-on-year to $3.04 billion, missing the consensus of $3.06 billion.
- Digital Entertainment revenue decreased 52.5% Y/Y to $539.69 million, and bookings were $462.3 million versus $543.6 million a year ago. The segment-adjusted EBITDA was $230.1 million, compared to $258.2 million a year ago.
- Quarterly active users were 491.6 million, compared to 485.5 million for the previous quarter.
- Average bookings per user were $0.9 versus $1.1 a quarter ago.
- E-commerce and other services revenue increased 36.3% Y/Y to $2.1 billion. Adjusted EBITDA for Shopee overall was $207.7 million versus $(742.8) million a year back.
- Marketplace revenue grew 45.5% Y/Y.
- Digital Financial Services revenue grew 75% Y/Y to $412.8 million.
- Adjusted EPS of $0.35 missed the consensus of $0.39. Sea Ltd held $7.2 billion in cash and equivalents.
- The company booked a goodwill impairment of $117.9 million associated with its prior acquisition.
- Price Action: SE shares traded lower by 17.46% at $72.76 on the last check Tuesday.
Allot Reports Preliminary Q2 Revenue $25M Vs $25.09M Est.
Allot Ltd. (NASDAQ: ALLT), (TASE: ALLT), a leading global provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, today announced preliminary financial results for the second quarter ended June 30, 2023.
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