SEA电商与电子支付业务增长前景明朗

华泰证券
05 Mar

4Q24 SEA 收入为49.5 亿美元,同增36.9%,优于VA(Visible Alpha)一致预期的同增29.1%。经调整EBITDA 5.9 亿美元,符合VA 一致预期的5.9亿美元。管理层指引电商业务2025 年有望实现约20%GMV 增长,并表示游戏板块2025 年活跃用户数和预定量或均实现双位数增长。我们认为公司多项业务增长前景较为明朗。维持“增持”评级。电商:变现率提升推动收入好于...

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