|Bid||34.00 x 800|
|Ask||34.70 x 1000|
|Day's Range||34.44 - 35.35|
|52 Week Range||10.52 - 37.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||37.09|
SHENZHEN, China/SHANGHAI (Reuters) - When Tencent Holdings Ltd made its first big foray overseas with an adaptation of its blockbuster mobile game "Honour of Kings" in the summer of 2017, executives thought they had a sure-fire success on their hands. The multi-player role-playing game, in which players hack and slash their way through battle arenas, had 55 million daily active users in China and was raking in roughly $145 million a month, making it the company's top grossing game. Tencent has now all but written off its original plans for "Arena of Valor" and disbanded the game's marketing team for Europe and the United States, two company sources with direct knowledge of the matter said.
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(Bloomberg) -- Sea Ltd., operator of Southeast Asia’s biggest gaming platform, has raised $1.35 billion after increasing the size of a follow-on stock offering.
It’s Sea Ltd.’s marquee hit, a virtual landscape housing more people than the American population and the prime reason Chinese-born founder Forrest Li is climbing the real world’s wealth rankings. The 41-year-old entrepreneur owns 13.8 percent of Singapore-based Sea, a stake now worth roughly $1 billion, according to the Bloomberg Billionaires Index. Shares in Southeast Asia’s biggest gaming service surged 35 percent on Wednesday -- the most since its 2017 initial public offering -- after reporting a doubling in sales and robust growth at e-commerce unit Shopee.
Though Sea Limited's (SEA) fourth-quarter 2018 results reflect benefits from robust growth in Digital Media segment and expanding e-commerce platform, rising expenses hurt.
To be fair, the Singapore-based and U.S.-listed company isn’t hiding its numbers based on generally accepted accounting principles, or GAAP. Dig down to page 7, though, and you’ll discover that the GAAP figure was more than 20 percent lower at $827 million. Interestingly, if the release had led with this figure the company could have correctly pointed out that GAAP sales doubled from a year earlier.