Sea Limited Shares Fall Nearly 9% After Q3 Earnings Miss Despite 43% Revenue Growth

Sea Limited (NYSE:SE) reported third-quarter 2026 adjusted earnings of $0.78 per share, below analysts’ expectations of $0.99, despite revenue increasing 43.4% year-on-year to $8.6 billion, exceeding the consensus estimate of $8.1 billion. Shares of the Singapore-based technology company declined 8.89% in premarket trading on Tuesday.

Net income rose 34.0% to $502.5 million, supported by revenue growth across the company’s e-commerce, digital financial services and gaming businesses.

Shopee Revenue Increases 41.3% to $6.1 Billion

Sea’s e-commerce platform, Shopee, generated quarterly revenue of $6.1 billion, representing a 41.3% increase from the previous year.

Gross merchandise volume (GMV) grew 23.3% to $39.7 billion, while core marketplace revenue, primarily comprising transaction fees and advertising, increased 50.6% to $4.6 billion.

Shopee’s adjusted EBITDA rose 44.7% to $269.2 million, reflecting higher revenue and improved monetisation.

Monee Revenue Rises 63.9% as Lending Portfolio Expands

Sea’s digital financial services division, Monee, reported revenue of $1.6 billion, up 63.9% year-on-year.

Outstanding principal on consumer and small and medium-sized enterprise loans increased 60.0% to $12.6 billion.

The segment’s adjusted EBITDA advanced 15.5% to $298.3 million.

Garena Reports Higher Revenue and Adjusted EBITDA

Garena, Sea’s digital entertainment division, recorded revenue of $840.1 million, an increase of 28.6% compared with the corresponding period of 2025.

Bookings rose 5.9% to $890.0 million, while adjusted EBITDA increased 45.9% to $458.2 million.

The results reflected growth in both revenue and adjusted profitability within the gaming business.

CEO Comments on Third-Quarter Performance

Chairman and Chief Executive Officer Forrest Li commented on the company’s results:

“Our strong momentum from the first half of the year has continued into the third quarter. We are pleased with this solid performance, and will continue to focus on executing our priorities with discipline.”

The company reported year-on-year revenue increases across all three operating divisions, although adjusted earnings per share remained below market expectations.

Sea Limited Authorises Additional $1 Billion Share Repurchase

Sea Limited also provided an update on its share repurchase activities.

The company has repurchased approximately 11.1 million shares for $997.2 million under its existing $1.0 billion programme, bringing it close to completion.

The board has approved an additional $1.0 billion share repurchase authorisation.

The third-quarter results showed continued revenue growth across Shopee, Monee and Garena, alongside higher consolidated net income. However, the adjusted earnings shortfall coincided with an 8.89% decline in Sea Limited shares during premarket trading.

Sea Ltd stock price