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$Sea (SE.US)$ The company expects the Shopee marketplace to ...
$Sea (SE.US)$ The company expects the Shopee marketplace to reach breakeven on an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) basis by the end of 2023.
Sea's digital entertainment business is seeing weaker revenue in the near term, causing management to lower its guidance for the segment by $300 million to between $2.6 billion to $2.8 billion for the full year.
Overall, the market cares more about management's tune around profitability. With the stock trading at a significantly lower valuation, it certainly bolsters the bullish case for the stock if management delivers on its goal.
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