Summary by Futu AI
Sea Limited, a leading global consumer internet company, reported its financial results for the fourth quarter and full year ended December 31, 2023. The company, which operates three core businesses in digital entertainment, e-commerce, and digital financial services, announced its first full year of annual profit since its IPO. Chairman and CEO Forrest Li expressed satisfaction with the profitability achieved in 2023, the strengthened market leadership in e-commerce, growth in digital financial services, and stabilization of the digital entertainment business. Sea's cash position increased to $8.5 billion by the end of 2023. For the fourth quarter, Sea reported a total GAAP revenue of $3.6 billion, a 4.8% increase year-on-year, with a net loss of $111.6 million compared to a net income of $422.8 million...Show More