Sea Limited stock posts strong Q3 growth, expands buyback plan

Sea Limited reported strong third-quarter growth on Tuesday, November 10, after results for the period ended September 30 showed expansion across its e-commerce, financial-services and gaming businesses. In its Business Wire release published by Yahoo Finance, the Singapore-based company said GAAP revenue rose 43.4 percent year over year to 8.582 billion US dollars. Net income increased 34.0 percent to 502.5 million US dollars, while adjusted EBITDA rose 28.9 percent to 931.3 million US dollars.

Sea Limited stock traded at 69.40 euros on Lang & Schwarz at 14:04 CET on Tuesday, November 10, 2026.

Shopee Drives Platform Expansion

Shopee remained the largest contributor to group revenue. The e-commerce business generated 6.1 billion US dollars in quarterly revenue, up 41.3 percent from a year earlier. Gross merchandise volume increased 23.3 percent to 39.7 billion US dollars, while gross orders rose 25.5 percent to 4.5 billion.

Core marketplace revenue, mainly transaction fees and advertising, climbed 50.6 percent to 4.6 billion US dollars. Shopee adjusted EBITDA increased 44.7 percent to 269.2 million US dollars. Chief Executive Forrest Li said the platform reached new records in revenue and profit, citing a growing buyer base, stronger monetization and improving unit economics.

Monee Expands Credit Business

Monee was Sea's fastest-growing major business by revenue. Revenue rose 63.9 percent to 1.6 billion US dollars, while adjusted EBITDA increased 15.5 percent to 298.3 million US dollars. Consumer and small-business loans principal outstanding reached 12.6 billion US dollars at September 30, an increase of 60.0 percent year over year.

The expansion also raised the risk focus for investors. Loans past due by more than 90 days represented 1.3 percent of principal outstanding, compared with 1.1 percent in the year-earlier quarter. Sea said Monee continued to expand access to credit while maintaining a disciplined approach to risk and investment.

Garena Improves Profitability

Garena revenue rose 28.6 percent to 840.1 million US dollars, and bookings increased 5.9 percent to 890.0 million US dollars. Adjusted EBITDA climbed 45.9 percent to 458.2 million US dollars. Quarterly active users were 671.7 million, broadly stable from 670.8 million a year earlier, while paying users increased 4.1 percent to 68.6 million.

Management attributed the gaming performance mainly to Free Fire bookings growth and continued momentum for Arena of Valor after its tenth-anniversary celebrations. The figures show that profitability improved even as user growth remained limited.

Buyback Adds Capital Support

Sea said it had repurchased 11.1 million shares for 997.2 million US dollars under its existing authorization by November 10. The board approved an additional 1.0 billion US dollars on November 9, without an expiration date. The timing and size of future purchases will depend on market conditions and other considerations.

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