Sea ltdAnyone got any view on Sea Ltd q1 results they’ve just posted on their website?
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Excellent continuation of growth. Not a blowout compared to expectations, but very solid — probably the part that was most “surprising” and helped to drive the shares higher was the commentary about April, after the quarter ended — 100% growth in Free Fire paying users year over year, 140% growth in Shopee orders, etc. The first quarter was strong, with revenue growing slightly from Q4 to Q1, but it looks like the second might be stronger still if these trends continue.
The only real negative that jumped out, and it should have been expected, is that expenses were high — as with Amazon and others over the past few months, spending has ramped up to help with the surge of business and to try to take advantage of the business opportunity of all these people staying at home and, in places like Indonesia or Thailand, maybe trying e-commerce for the first time. Haven’t had a chance to listen to the call yet to see if there’s some “color” I’m missing, but I plan to… the numbers look good to me.