Singapore's Sea beats quarterly revenue estimates as ecommerce spending surges

Sea

12/05/2026 12:05

May 12 (Reuters) - Singapore's Sea SE.N beat Wall Street expectations for first-quarter revenue on Tuesday, driven by strong spending on its ecommerce platform amid growing competition in Southeast Asia, sending its U.S.-listed shares up over 7% in premarket trading.

Sea has been aggressively trying to lure consumers to its Shopee platform with incentives and discounts, as it contends with rivals such as TikTok Shop amid a cloudy macroeconomic environment.

The first-quarter revenue came in at $7.1 billion, beating estimates of $6.41 billion, according to data compiled by LSEG.

Revenue for its ecommerce unit was up 44.4% at $4.5 billion, while analysts expected $4.3 billion.

Revenue for Monee, its financial services platform, grew 57.8% to $1.24 billion.

Garena, the company's digital entertainment arm, posted revenue growth of 40.6% to $696.6 million.

Sea reported earnings per share of 67 cents in the quarter, compared with a profit of 65 cents per share a year ago.

 (Reporting by Zaheer Kachwala in Bengaluru; Editing by Vijay Kishore)

 ((Zaheer.Kachwala@thomsonreuters.com;))