Sea Stock Plunges 13 percent Following Q3 Results

Sea (NYSE:SE) shares plunged more than 13% intra-day today after the company reported its third-quarter results. The loss per share was reported at 26 cents, which was significantly worse than the analyst projection of a 12-cent loss.
The company reported a total revenue of $3.31 billion, exceeding the Street forecast of $3.17 billion. Breaking down the revenue streams, its E-commerce segment achieved $2.42 billion, outperforming the anticipated $2.18 billion.
The Digital Entertainment segment generated $592.2 million in revenue, surpassing expectations of $556.5 million. However, its Digital Financial Services segment fell slightly short, with revenue of $446.2 million against an estimated $448.9 million.

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