Key findings

$SE Sea Q4 FY22: • Revenue +7% Y/Y to $3.5B ($0.4B beat). • EPS $0.72 ($1.27 beat). 🟠 Shopee adj. margin 9% (+64pp Y/Y). 🔴 Garena Bookings -18% Q/Q to $0.5B. 🔵 SeaMoney revenue +93% Y/Y. Significant earnings beat driven by lower sales & marketing expenses.

Sea Ltd (NYSE: $SE) Income Statements Q4 2022 | Source: https://twitter.com/EconomyApp

First-ever profit

Shopee parent company, Sea Ltd. has achieved a significant milestone in its efforts to revamp its business and demonstrate its profitability to investors. The Southeast Asian company, which operates in the gaming and e-commerce sectors, has announced its first-ever profit. This achievement marks a key turning point for the company as it seeks to solidify its position in the highly competitive market.

This achievement is a clear indication of the company's ability to innovate, adapt and overcome challenges in the highly dynamic and competitive market. With a strong focus on customer satisfaction, innovation and operational efficiency, Sea Ltd is poised to continue its upward trajectory and become a leader in the Southeast Asian gaming and e-commerce market.

Results of cutting jobs and slashed sales and marketing expenses

Sea Ltd's first-ever reported profit is a clear indication of the success of its revamped strategy. The company's profitability was driven by a reduction in marketing and sales expenses, as a result of the company's new approach to business operations.

In a bid to demonstrate its profitability to investors, Sea Ltd underwent a significant revamp last year, which involved implementing drastic measures such as cutting thousands of jobs and freezing salaries. These measures represented a stark shift from the company's previous approach and demonstrated its willingness to take bold steps to secure its future.

Through these actions, Sea Ltd was able to streamline its operations, reduce costs, and focus on its core business areas. This allowed the company to position itself for long-term growth and profitability, ultimately leading to its first-ever reported profit.

The company's success is a testament to its resilience and ability to adapt to a rapidly changing market. With its renewed focus on operational efficiency and financial stability, Sea Ltd is well-positioned to continue its upward trajectory and establish itself as a leader in the Southeast Asian gaming and e-commerce market.

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