Sea Limited reported a 6.2% rise in net profit to approximately US$427.9 million for Q1 2026 compared to a year ago, with revenue climbing 46.6% to about US$7.1 billion [1, 2, 3]. Earnings per share increased 2.9% to US$0.70 for the quarter [1, 3].
The e-commerce platform Shopee led growth with Q1 revenue reaching US$4.5 billion, a 44.4% year-on-year increase. Shopee’s gross merchandise value (GMV) rose 30.2% to US$37.3 billion. Despite revenue gains, Shopee’s adjusted EBITDA declined 15% to US$223 million [1, 2, 3].
Sea’s financial services segment, Monee, posted revenue of US$1.2 billion, up 57.8%, with adjusted EBITDA growing 14% to US$275 million [1, 3]. The gaming unit Garena also showed strong results, delivering US$931 million in revenue (up 20%) and adjusted EBITDA of US$574 million, a 25% rise [1, 2, 3].
Following the earnings release on May 12, Sea’s stock price rose 13% over two trading days, reaching US$96.02 on May 13 [4, 2]. CEO Forrest Li credited strategic use of artificial intelligence on Shopee’s platform for enhancing customer experience and reducing service costs by about 30% year on year. He highlighted the introduction of AI shopping assistants and virtual business advisers [1, 4].
Li said, "Shopee delivered another record-setting quarter, achieving new highs in gross merchandise value (GMV), gross order volume, and revenue while maintaining financial discipline" [4]. He added, "We are on track to deliver our 2026 guidance: to grow Shopee’s annual GMV by around 25 per cent year on year, with full-year adjusted EBITDA no lower than 2025 in absolute dollar terms" [3].
Sea is positioned to sustain Shopee’s growth momentum and maintain adjusted EBITDA levels at least on par with 2025 this year [1, 4, 2, 3]. The company will release further updates as it advances toward its 2026 financial targets.
