Sea Profit Rises on Broad-Based Growth, Beating Expectations
By Kimberley Kao
Sea Ltd., one of Southeast Asia's largest companies by market capitalization, posted stronger third-quarter profit on strong growth across all business segments.
The consumer-internet titan behind e-commerce platform Shopee said Tuesday that net income jumped 34% from a year earlier to $502.5 million for the three months ended September. That beat a Visible Alpha consensus estimate for $498.9 million.
Revenue also topped market views, climbing 43% to $8.58 billion.
The strong performance of Shopee, Southeast Asia's largest e-commerce platform, drove top-line growth. Shopee accounts for more than two-thirds of Sea's revenue, with gaming and financial services making up the rest.
Shopee's gross merchandise value, a measure of sales, rose 23% during the quarter, driving revenue 41% higher. Improved monetization also supported the top line, the company said.
The platform's adjusted earnings before interest, taxes, depreciation and amortization climbed 45% to $269.2 million.
Monee, its digital financial-services arm, remained the fastest-growing business, with revenue rising 64% in the third quarter.
Forrest Li, Sea's chairman and chief executive, told staff in a memo last month that the company was considering a public listing for Monee to provide the business with more runway to grow, without indicating a timeline.
Sea's gaming division, Garena, recorded a 46% increase in adjusted Ebitda to over $450 million for the quarter.
Artificial intelligence and cloud technology have also been key priorities for the company, with Sea planning to launch an AI-first enterprise platform called Sea Cloud, Li said in the memo.
The company has been investing in AI tools, and partnered with the likes of OpenAI and Meta to embed AI in the shopping experience.
Shares of Sea have risen more than fivefold since listing on the New York Stock Exchange in 2017, though the stock price remains well off its 2021 peak.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
November 10, 2026 07:08 ET (12:08 GMT)
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