Sea pivoted to growth over profits as it faced rising competition from TikTok, Lazada, analysts say
Publishing timestamp: 2023-08-18 04:17:33
Summary
Sea, a Southeast Asian tech giant, announced plans to reaccelerate investments in growth, particularly in e-commerce, after previously focusing on profitability. The company's stock plummeted after missing revenue expectations, but analysts believe the pivot is a move to defend market share. Sea's investments may impact earnings in the near-term, but some analysts remain bullish on the company's strategy. The article also mentions competition from TikTok Shop and Lazada in the e-commerce space.
Sentiment: MIXED
Tickers: A6I-FF, UNDEFINED, SE, BABA,
Keywords: breaking news: technology, business news, goto ltd, technology, asia economy, sea ltd, internet, earnings, alibaba group holding ltd, grab holdings ltd,
Source: https://www.cnbc.com/2023/08/18/seas-growth-pivot-stems-from-e-commerce-competition.html