Earnings are like a box of chocolates – you never know what you’re gonna get

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‘Tis the season, the season for earnings.

It’s a bit early to hang Christmas decorations, but there’s some seasonal cheer to go around as several of Southeast Asia’s biggest listed companies announce their third-quarter earnings. However, there are also some lumps of coal hidden in those festive stockings.

Since the last edition of this newsletter, Grab (GRAB, Nasdaq) logged its first-ever profitable quarter, measured by adjusted EBITDA. On the other hand, Sea Group (SE, NYSE) posted a net loss after previously reporting three consecutive quarters of profit.

It’s been a mixed bag, with investor reactions ranging from enthusiastm to revulsion. But that’s usually the case after getting exposed to the whims of the markets, so companies have to take the good with the bad.

Livestreaming firm 17Live has yet to go public, but its most recent results were also a mixed bag. The company posted a big gain in adjusted EBITDA in the first half of this year, but its revenue also dropped significantly.

My colleague Miguel has the full story on how the first target of a special purpose acquisition firm in Singapore is shaping up as it plots an IPO.

— Peter

THE BIG STORY

Image credit: Timmy Loen

17Live, Singapore’s first SPAC target, shrinks revenue as price of profit rises

The livestreaming firm has plans in place to reverse the drop in revenue, which involves a heightened focus on its VTuber platform V-Liver.

3 Trends to keep an eye on

Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.

Photo credit: Grab

2 Eye-popping facts

The one you didn’t see coming