The Singapore-based Sea Ltd. posted a bigger loss than expected and withdrew its 2022 e-commerce forecast.
Shares of Sea Limited (NYSE: SE) dropped dramatically early Tuesday, cratering as much as 15.2%. The catalyst that sent the tech giant lower was a disappointing earnings report Tuesday morning that signaled choppy waters ahead. Sea Limited reported second-quarter revenue of $2.9 billion, up 29% year over year, resulting in gross profit that climbed 17%.
Image source: The Motley Fool. Sea Limited (NYSE: SE)Q2 2022 Earnings CallAug 16, 2022, 7:30 a.m. ETContents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: OperatorGood morning and good evening.