Equinor ASA (EQNR) recently made a new oil and gas discovery in the Norwegian North Sea. The discovery was made within the Rhombi prospect, which lies in the production license (PL) 090. The Norwegian energy company has drilled an exploration well and a sidetrack at water depths of 355 meters in the Rhombi prospect, approximately 10 kilometers north of the Troll field in the North Sea.Hydrocarbon Discovery and Estimated ReservesThe Norwegian Offshore Directorate (“NOD”) has confirmed that both wells have en ...

The past five years have been a roller coaster for Southeast Asian super-app Sea Limited (SE -0.38%). After its e-commerce, digital financial services, and video game businesses all boomed during the pandemic, the post-pandemic hangover and rise in interest rates caused the stock to plunge some 90% from its highs.While some investors might have cast off this name, shares are now up roughly 160% this year but still about 70% below their all-time highs. With Sea's businesses finally back on a profitable growt ...

Investment Rating - Maintains a "Buy" rating with a target price raised to $125 [7][9] Core Views - Sea's 3Q24 revenue reached $4.33 billion, up 30.8% YoY, surpassing market expectations by 6.4% [5] - Adjusted EBITDA for 3Q24 was $520 million, exceeding market expectations by 8.4% [5] - Adjusted net profit for 3Q24 was $330 million, 6.2% above market expectations [5] E-commerce Business - E-commerce revenue in 3Q24 was $3.18 billion, up 43% YoY, with core market revenue growing 49% and value-added services revenue up 29% [5] - GMV increased 25% YoY to $25.1 billion, with total orders up 24% to 2.8 billion [5] - Adjusted EBITDA for e-commerce turned positive at $34.5 million, with $30.9 million from Asia and $3.5 million from other markets [5] - The company maintains its full-year GMV growth guidance of around 25% [5] Digital Financial Services - Digital financial services revenue in 3Q24 was $620 million, up 38% YoY, driven by consumer and SME lending [6] - Loan principal increased 73% YoY to $4.6 billion, with a non-performing loan ratio improving to 1.2% [6] - Adjusted EBITDA for digital financial services was $190 million, up 13% YoY [6] Digital Entertainment - Digital entertainment revenue in 3Q24 was $500 million, down 16% YoY due to deferred revenue, but game revenue grew 24% YoY to $560 million [6] - Quarterly active users increased 16% YoY, and quarterly paying users grew 24% [6] - Adjusted EBITDA for digital entertainment was $310 million, up 34% YoY [6] - Free Fire remained the top-downloaded mobile game globally in 3Q24, with daily active users exceeding 100 million [6] Financial Projections - Revenue forecasts for 2024E and 2025E were raised to $16.3 billion and $18.9 billion, respectively [7] - Adjusted net profit for 2024E and 2025E is projected at $1.09 billion and $1.73 billion, respectively [8] - Adjusted target P/E ratios for 2024E, 2025E, and 2026E are 69.0x, 43.5x, and 31.9x, respectively [8] Valuation and Market Performance - The current stock price is $107.65, with a 52-week range of $34.35 to $117.52 [9] - The total market capitalization stands at $61.61 billion [9] - The stock has shown significant outperformance relative to the S&P 500 index over the past year [9]

Sea Limited (SE) reported adjusted earnings of 54 cents per share in the third quarter of 2024, missing the Zacks Consensus Estimate by 8.47%. It had posted earnings of 6 cents in the year-ago quarter. SE's earnings lagged the Zacks Consensus Estimate in the trailing four quarters, the average negative earnings surprise being 55.54%. Find the latest EPS estimates and surprises on Zacks Earnings Calendar. Revenues of $4.3 billion increased 30.8% on a year-over-year basis, beating the Zacks Consensus Estimate ...

New Shows, Holiday Parties, Tree Lighting, Seasonal Entertainment All Part of New Holidays at Sea Program Aboard Conde Nast Traveler's #1 Mega Cruise ShipNewly Launched "ArtBeat a Happy Heart by Britto" Adds to Entertainment LineupFT. LAUDERDALE, Fla., Nov. 13, 2024 /PRNewswire/ -- The newly launched Sun Princess brings an exciting lineup of first-ever holiday experiences to the high seas, transforming its decks into a festive paradise for the season. As the latest and most impressive addition to the Prince ...

Investment Rating - The report maintains an "Outperform" rating for SEA (SE N) with a target price range of $133-136, implying a 24%-27% upside potential [4][14] Core Views - SEA's Q3 2024 results showed strong revenue and profit growth, driven by e-commerce and digital financial services, partially offset by a decline in gaming revenue [1][6] - The company achieved a net profit of $1 53 billion with a net margin of 4% in Q3 2024 [1][6] - E-commerce adjusted EBITDA turned positive at 1 1%, while gaming and digital financial services maintained high EBITDA margins of 63% and 31% respectively [1][6] E-commerce Business - E-commerce revenue grew 43% YoY to $3 2 billion in Q3 2024, driven by stable competition in Southeast Asia and improved monetization [1][9] - Gross Merchandise Value (GMV) increased 25% YoY, with core market revenue growing 49% and logistics-related value-added services revenue up 29% [1][9] - Adjusted EBITDA for e-commerce reached $34 million, marking a positive turnaround [1][9] Gaming Business - Gaming revenue declined 16% YoY to $500 million in Q3 2024, but adjusted EBITDA increased 34% YoY to $300 million [2][11] - Gaming gross bookings grew 24% YoY to $560 million, driven by strong performance of Free Fire [2][11] - Quarterly active users reached 630 million, up 16% YoY, while paying users increased 24% YoY to 50 million [2][12] Digital Financial Services - Digital financial services revenue grew 38% YoY to $620 million in Q3 2024, primarily driven by credit business [3][13] - Adjusted EBITDA for digital financial services was $190 million with a 31% margin [3][13] - Total loans receivable reached $4 6 billion, up 73% YoY, while the non-performing loan ratio (90+ days overdue) decreased to 1 2% [3][13] Financial Forecasts - Revenue forecasts for 2024-2026 were adjusted to $16 4/$18 9/$21 5 billion, reflecting improved e-commerce performance [14] - Net profit forecasts for 2024-2026 were revised to $479 million/$1 21 billion/$1 86 billion, indicating a strong turnaround and long-term profit potential [14] - The company is valued at 52x 2025E PE and 3 3x 2025E PS, with e-commerce, digital financial services, and digital entertainment valued at 40-42x, 25x, and 10x 2025E PE respectively [14]

Group 1 - The recent stock market rally has reached all-time highs, not only in the U.S. but also among overseas companies, indicating a broad-based recovery [1] - Companies are delivering impressive results during the Q3 earnings season, highlighting strong performance across various sectors [1] Group 2 - Sea has been identified as a notable winner in the recent earnings season, showcasing its strong market position and growth potential [1]

Exhibit 99.1 Sea Limited Reports Third Quarter 2024 Results Singapore, November 12, 2024 – Sea Limited (NYSE: SE) ("Sea" or the "Company") today announced its financial results for the third quarter ended September 30, 2024. "I'm happy to report that it has been another solid quarter. We are seeing high growth across all our three businesses," said Forrest Li, Sea's Chairman and Chief Executive Officer. Referring to the growth of our three businesses, he said, "Shopee is on track to deliver our full year gu ...

Key TakeawaysShopee parent Sea Limited reported strong sales from its e-commerce and financial services units, sending its U.S.-listed shares higher Tuesday. Sea's third-quarter revenue was up 30.8% from a year ago to $4.33 billion, exceeding forecasts.E-commerce sales jumped 42.6%, and financial services sales added 38%. Sea Limited's (SE) U.S.-listed shares jumped Tuesday after the Singapore-based company posted better-than-expected sales on strong demand for its e-commerce and financial services. The pa ...

Sea Limited (NYSE:SE) Q3 2024 Earnings Conference Call November 12, 2024 7:30 AM ET Company Participants M.C. Koh - Director, IR Forrest Li - Founder, Chairman & CEO Tony Hou - CFO Conference Call Participants Pang Vitt - Goldman Sachs Alicia Yap - Citigroup John Choi - Daiwa Thomas Chong - Jefferies Divya Kothiyal - Morgan Stanley Rishabh Dhancholia - HSBC Ranjan Sharma - JPMorgan Sachin Salgaonkar - Bank of America Merrill Lynch Jiong Shao - Barclays Operator Good morning and good evening to all, and welc ...