Stock Alert: Sea Ltd Soars On Surge In Q4 Revenue

(RTTNews) - Sea Limited (SE) shares are gaining on Tuesday morning trade as the company reported a surge in fourth-quarter revenues and a better outlook for the full year 2021.

The Singapore-based global consumer internet company reported a 101.6 percent increase in revenue in the fourth quarter to $1.566 billion from $777.22 million a year ago. It, however, reported a wider net loss of $524.56 million compared with $281.92 million loss last year. Looking ahead, the company expects an increase of 38.1 percent in digital entertainment from last year in the range of $4.3-$4.5 billion.

The shares are currently at $263.07, up 6.10 percent from the previous close of $248.51. The shares have traded in a range of $35.61-$285.00 on average volume of 3,889,521 for the last 52-weeks.