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Sea Limited Reports Third Quarter 2026 Results

SE
  • Sea Limited reported third quarter 2026 GAAP revenue of US$8.6 billion, representing a 43.4% year-on-year increase.
  • The company achieved gross profit of US$3.9 billion (up 51.4% year-on-year) & net income of US$502.5 million (up 34.0% year-on-year).
  • Adjusted EBITDA increased 28.9% year-on-year to US$931.3 million.
  • Shopee segment revenue reached US$6.1 billion, up 41.3% year-on-year, with gross orders totaling 4.5 billion (up 25.5%) & GMV at US$39.7 billion (up 23.3%).
  • Shopee Adjusted EBITDA rose 44.7% year-on-year to US$269.2 million.
  • Monee segment revenue grew 63.9% year-on-year to US$1.6 billion, with consumer & SME loans principal outstanding reaching US$12.6 billion.
  • Monee Adjusted EBITDA increased 15.5% year-on-year to US$298.3 million, while non-performing loans past due >90 days were 1.3%.
  • Garena segment bookings were US$890.0 million (up 5.9%), with GAAP revenue at US$840.1 million (up 28.6%).
  • Garena Adjusted EBITDA surged 45.9% year-on-year to US$458.2 million, supported by strong performance in Free Fire & Arena of Valor.
  • Quarterly active users for Garena reached 671.7 million, with paying users at 68.6 million (up 4.1%).
  • The company repurchased 11.1 million shares under a US$1.0 billion program, totaling US$997.2 million spent as of November 10, 2026.
  • The board approved an additional US$1.0 billion share repurchase authorization on November 9, 2026, with no expiration date.
  • Total sales & marketing expenses increased 64.0% year-on-year to US$1.9 billion, primarily driven by Shopee & Monee growth.
  • Provision for credit losses rose 82.3% year-on-year to US$681.5 million due to expansion in lending activities.
  • Basic earnings per share were US$0.81, while diluted earnings per share were US$0.78 for the quarter ended September 30, 2026.
  • Sea Limited will host a conference call on November 10, 2026, to review financial results & business performance.