Sea Ltd Stock Jumps On Solid Q2 Revenue, Raised FY21 Outlook

Sea Ltd SE reported second-quarter FY21 revenue growth of 158.6% year-on-year to $2.3 billion, beating the analyst consensus of $1.93 billion.
Digital Entertainment revenue increased 166.8% Y/Y to $1.0 billion. The bookings rose 64.8% Y/Y to $1.2 billion.
Quarterly paying users grew by 84.8%, and quarterly active users increased 45.1% Y/Y. Average bookings per user grew 14.3% Y/Y to $1.6.
The segment adjusted EBITDA rose 69.8% Y/Y to $740.9 million.
E-commerce revenue increased 160.7% Y/Y to $1.2 billion.
Marketplace revenue grew 190.7% Y/Y, and product revenue rose 90.0% Y/Y.
Gross orders rose 127.4% Y/Y. Gross merchandise value increased 87.5% Y/Y.
The segment adjusted EBITDA loss was $(579.8) million.
The mobile wallet total payment volume rose 150% Y/Y to over $4.1 billion.
EPS loss of $(0.61) missed the analyst consensus loss of $(0.52).
Sea Ltd held $5.97 billion in cash and equivalents.
The company generated $450.73 million in operating cash flow during the six months ended Jun. 30.
Outlook: Sea Ltd raised FY21 bookings for digital entertainment from $4.3 billion - $4.5 billion to $4.5 billion - $4.7 billion.
The company increased the FY21 revenue for e-commerce from $4.5 billion - $4.7 billion to $4.7 billion - $4.9 billion.
Price Action: SE shares traded higher by 5.37% at $306.1 in the premarket session on the last check Tuesday.

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