Shopee Owner Sea's Quarterly Profit Rises, Beating Expectations

Published: 2026-05-12 06:54:21 ET SE

Published on 05/12/2026 at 06:54 am EDT

By Kimberley Kao

Sea Ltd., one of Southeast Asia's largest companies by market capitalization, posted a rise in first-quarter profit as revenue grew across its business.

The consumer-internet giant behind e-commerce platform Shopee said Tuesday that net profit increased 6.7% to $438.2 million for the first three months of the year. That beat a Visible Alpha consensus estimate for $412.9 million.

Revenue also topped market views, climbing 47% from a year earlier to $7.10 billion.

Revenue was buoyed by a strong topline performance by Singapore-based Shopee, the largest e-commerce platform in Southeast Asia. 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 30% during the quarter, while gross order volume jumped 29%.

However, the platform's adjusted earnings before interest, taxes, depreciation and amortization fell 15.5% to $223.2 million.

Write to Kimberley Kao at [email protected]

(END) Dow Jones Newswires

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