Singapore’s Sea Ltd reported better-than-expected quarterly earnings on Tuesday, with revenue climbing 33.7% year-over-year to $3.8 billion in its e-commerce division and overall performance sending U.S.-listed shares up 9% in premarket trading.
The company’s Shopee platform continued to dominate Southeast Asian and Taiwanese markets, with gross merchandise value (GMV) growing 28% to $29.8 billion. Sea has enhanced engagement through innovative features like live-streaming and in-app mini-games with redeemable rewards, helping boost traffic and user retention.
Sea’s gaming unit, home to the hit title “Free Fire,” maintained strong momentum alongside its fintech operations, contributing to what CEO Forrest Li called “robust, healthy growth across all three businesses.” The results mark a significant milestone for the company, which achieved profitability in e-commerce last year and now balances growth with improving margins.
With its diversified ecosystem firing on all cylinders, Sea appears well-positioned to maintain leadership in Southeast Asia’s competitive digital economy while exploring new monetization opportunities. The strong quarter reinforces investor confidence in Sea’s ability to sustain growth while progressing toward consistent profitability.