NEW YORK-LISTED Sea rallied 14 per cent last Tuesday (May 17), after announcing revenue numbers that beat expectations. For the first quarter ended March, Sea’s revenue surged 64.4 per cent to US$2.9 billion.

Investors appeared to shrug off the widening of its net loss to US$445.1 million (excluding share-based compensation) from the US$320 million loss a year ago.

The recent market response brings to mind investor reaction to Sea's financial results releases last year, when investors had also rewarded higher revenues and higher losses with higher valuations.