Sea Limited stock falls on Q1 earnings miss
Yahoo Finance Live's Rachelle Akuffo discusses the drop in shares of Sea Limited after its Q1 earnings miss.
RACHELLE AKUFFO: All right. Taking a look at shares of Sea Limited, trading to the downside, off more than 14% right now. This comes after a big profit miss in the first quarter for the internet service giant.
Sea reporting adjusted earnings per share of $0.15, compared to nearly $0.63 estimated. The company's digital entertainment revenue dropping more than 50% on an annual basis, and sales of goods also dropped nearly 9% since last year.
On upside in the report though is Sea's e-commerce segment. Revenue climbing up 50% year over year. Well, despite today's drop, Sea has actually been soaring this year, as you can see year to date up more than 44%.