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Sea Limited Soars: Q1 Earnings Beat Expectations
28 May
Summary
- Sea Limited's Q1 revenue surged 46.6% to $7.1 billion.
- Shopee saw gross orders grow by 29.3% in the quarter.
- Company repurchased 1.8 million shares for $168.4 million.
Sea Limited, a Singapore-based technology firm, reported exceptional first-quarter 2026 financial results. The company's revenue experienced a significant year-over-year increase of 46.6%, reaching $7.1 billion. Gross profit also saw a substantial rise of 40.7%, totaling $3.1 billion.
The e-commerce segment, Shopee, continued its strong performance with gross orders growing by 29.3% and gross merchandise volume expanding by 30.2%. Sea Limited's digital financial services arm, Monee, also reported robust revenue growth and an increase in loan offerings.
Garena, the digital entertainment division, posted higher bookings, revenue, and paying users compared to the previous year. Furthermore, Sea Limited actively returned capital to shareholders, repurchasing 1.8 million shares for approximately $168.4 million as part of its $1 billion repurchase program.
