Financial News
Sea (SE) Reports Q3: Everything You Need To Know Ahead Of Earnings
E-commerce and gaming company Sea (NYSE:SE) will be announcing earnings results tomorrow before market open. Here’s what to expect.
Sea beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $3.81 billion, up 23% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates. It reported 52.5 million users, up 21.8% year on year.
Is Sea a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Sea’s revenue to grow 23.3% year on year to $4.08 billion, improving from the 4.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.55 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 7 upward revisions over the last 30 days (we track 10 analysts). Sea has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 3% on average.
Looking at Sea’s peers in the online marketplace segment, some have already reported their Q3 results, giving us a hint as to what we can expect. EverQuote delivered year-on-year revenue growth of 163%, beating analysts’ expectations by 3%, and Shutterstock reported revenues up 7.4%, topping estimates by 4.1%. EverQuote traded up 3.9% following the results while Shutterstock was also up 12.1%.
Read our full analysis of EverQuote’s results here and Shutterstock’s results here.
There has been positive sentiment among investors in the online marketplace segment, with share prices up 11% on average over the last month. Sea is down 6.3% during the same time and is heading into earnings with an average analyst price target of $99.26 (compared to the current share price of $93.87).
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