— The Singapore-based firm Sea Limited (NYSE: SE) reported a fourth-quarter 2019 loss of $0.53 per share versus a loss of $0.30 per share expected.
— Revenue soared by 174% year-over-year to $777.2 million while adjusted revenue jumped by 134% to $909.1 million. The analysts had expected revenue of $873.12 million.
— Revenue from digital entertainment soared by 208% backed by a higher active user base as well as deepened paying user penetration, and in particular, the continued success of its self-developed game Free Fire.
— Revenue from e-commerce and other services jumped by 164% driven by the growth of the e-commerce marketplace, and positive development in each marketplace revenue streams – transaction-based fees, value-added services, and advertising.
— In the digital entertainment segment, quarterly active users (QAU) reached 354.7 million, an increase of 64.1% year-over-year from 216.2 million in the previous year quarter. The average revenue per user was $1.4 compared to $1.1 a year ago.
— Quarterly paying users continued to grow, accounting for 9.4% of QAUs for the fourth quarter of 2019, increasing from 5.5% for the same period in 2018.
— Looking ahead into fiscal 2020, the company expects adjusted revenue for the digital entertainment segment to be in the range of $1.9-2 billion and adjusted revenue for e-commerce to be in the range of $1.7-1.8 billion.
Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of
Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered
Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company