Sea Third-Quarter Revenue Tops Views; Shopee Growth Slows

09:57 AM EST, 11/10/2026 (MT Newswires) -- Sea (SE) reported third-quarter sales above market expectations on Tuesday, while revenue growth in the Singapore-based company's Shopee e-commerce business slowed from the previous quarter. Revenue jumped 43% year over year to $8.58 billion for the quarter ended Sept. 30, ahead of the Street's $8.08 billion estimate. Net income rose to $0.78 a share from $0.59 last year. Shopee recorded revenue growth of 41% to $6.07 billion, including $5.3 billion in marketplace revenue, which rose by the same percentage. Shopee's gross merchandise value, or GMV, advanced 23% to $39.7 billion. In the second quarter, the business's revenue rose 48% year over year, and GMV gained 28%. "Our strategies have proven effective at strengthening our fundamentals, giving us a growing buyer base, stronger monetization and improving unit economics," Chief Executive Forrest Li said in a statement. The company posted adjusted earnings before interest, taxes, depreciation and amortization of $931.3 million, up from $722.3 million the year before. The measure excludes the net effect of changes in deferred revenue and related costs at the Garena gaming business, the company said. Sea's US-listed shares were up 5.4% in Tuesday trading. The stock has lost 37% so far this year. Monee, Sea's digital financial services provider in Southeast Asia and Latin America, saw revenue spike 64% year over year to $1.62 billion. Revenue from Garena, a game developer and publisher, increased 29% to $840.1 million as bookings improved 5.9%. Garena's quarterly active users edged up to 671.7 million from 670.8 million in the 2025 quarter, while paying users rose 4.1% to 68.6 million. Last month, US e-commerce giant Amazon (AMZN) reported third-quarter results below Wall Street's estimates as a massive ramp in artificial intelligence spending sent its free cash flow deep into negative territory. Global marketplace platform eBay (EBAY) posted better-than-expected third-quarter results. Video game platform Roblox (RBLX) last month reported third-quarter bookings that surpassed the high end of its guidance. Price: 83.29, Change: +5.33, Percent Change: +6.84