Sea Clocks ~122% Revenue Growth In Q3, Tops Consensus

Sea Ltd SE reported third-quarter FY21 revenue growth of 121.8% year-on-year to $2.7 billion, beating the consensus of $2.45 billion.
Digital Entertainment revenue increased 93.2% Y/Y to $1.1 billion, and bookings rose 29.2% Y/Y to $1.2 billion.
Quarterly paying users grew by 42.7%, and quarterly active users increased 27.4% Y/Y. Average bookings per user were in line at $1.7.
The segment adjusted EBITDA rose 22.3% Y/Y to $715.1 million.
E-commerce revenue increased 134.4% Y/Y to $1.5 billion.
Marketplace revenue grew 151.4% Y/Y, and product revenue rose 82.2% Y/Y.
Gross orders rose 123.2% Y/Y. Gross merchandise value increased 80.6% Y/Y.
The segment adjusted EBITDA loss was $(683.8) million.
The mobile wallet total payment volume rose 111% Y/Y to over $4.6 billion.
EPS loss of $(0.84) missed the consensus loss of $(0.65).
Sea Ltd held $12.5 billion in cash and equivalents.
Outlook: Sea Ltd increased the FY21 revenue for e-commerce from $4.7 billion - $4.9 billion to $5.0 billion - $5.2 billion.
Price Action: SE shares traded higher by 4.95% at $360 in the premarket session on the last check Tuesday.

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