Sea Limited Reports Strong Q1 2026 Results: Revenue Up 46.6% to $7.1B, Shopee GMV Jumps 30.2%

summarizeSummary

Sea Limited reported robust first-quarter 2026 financial results, with total revenue increasing 46.6% year-over-year to $7.1 billion, driven by strong performance across its e-commerce, digital financial services, and digital entertainment segments.

check_boxKey Events

• Strong Revenue Growth

  Total GAAP revenue increased 46.6% year-over-year to US$7.1 billion, surpassing analyst estimates.

• Segment Performance Highlights

  Shopee's GMV grew 30.2% to US$37.3 billion and revenue rose 45.1%. Monee's revenue surged 57.8% to US$1.2 billion. Garena's bookings increased 20.1% to US$931.4 million, marking its best quarter since 2021.

• Profitability and Strategic Investments

  Net income increased 6.7% to US$438.2 million and Adjusted EBITDA rose 9.3% to US$1.0 billion. Shopee's Adjusted EBITDA declined 15.6% to US$223.2 million, attributed to strategic investments to deepen competitive advantages.

• Share Repurchase Program

  The company repurchased 1.8 million shares for an aggregate of US$168.4 million during the quarter as part of its US$1.0 billion program.

auto_awesomeAnalysis

Sea Limited delivered a strong first quarter, with revenue significantly exceeding analyst expectations. While overall net income and adjusted EBITDA growth were modest, the company's core e-commerce platform, Shopee, achieved substantial growth in GMV and revenue, albeit with a planned dip in adjusted EBITDA due to strategic investments in competitive moats. Both Monee and Garena segments demonstrated impressive revenue and profitability growth, with Garena having its best quarter since 2021. The company also continued its share repurchase program, buying back $168.4 million in stock.