Analyst Jonathan Woo says the company’s net loss was worse than expected, standing at 79% of his FY2022 forecasts.
PhillipCapital has maintained its “buy” rating on tech conglomerate Sea, but have cut its target price to US$110 ($153) from US$150.
This comes after Sea reported a loss increase of 115% y-o-y in its 2QFY2022 ended June, despite revenue increasing by 29% y-o-y.
