Southeast Asian tech giant Sea Ltd more than doubled its quarterly profit from a year earlier, supported by higher revenue across its e-commerce, digital finance, and gaming units.
The company also raised its full-year GMV growth guidance for Shopee to 25%, from 20% earlier, after reporting what it called a record quarter for order volumes.
The group posted a net profit of $375 million in the third quarter of 2025, rising 144% from the $153.3 million in the same period last year. GAAP revenue rose to $6 billion from $4.3 billion a year earlier, while the firm’s adjusted EBITDA was $874.3 million.
“With e-commerce and digital finance penetration in our markets still low but increasing, strong growth lays the best foundation to maximise our long-term profitability,” said Forrest Li, Sea’s Chairman and Chief Executive Officer.
Across Sea’s verticals, its e-commerce business continued to be its revenue driver, with Shopee processing 3.6 billion orders in the quarter, up from 2.8 billion in the same quarter last year. GMV increased to $32.2 billion from $25.1 billion in Q3 2024.
The Shopee platform reported a GAAP revenue of $4.3 billion, rising by more than a billion dollars from the $3.2 billion seen in the same period last year. Shopee’s EBITDA came in at $186.1 million, increasing more than fivefold from $34.4 million a year earlier.
With Shopee’s record performance, the firm announced that it is increasing its GMV growth guidance for Shopee to 25% from the earlier expected growth of 20%.
“Shopee delivered another record-setting quarter, achieving new highs in quarterly GMV, gross order volume, and revenue. We also improved our year-on-year profitability across Asia and Brazil. Our monetisation gains, strong growth momentum, and healthy balance sheet have positioned us well to capture even more growth opportunities,” Li said.
Sea’s digital financial services arm, Monee, meanwhile, booked GAAP revenue of $989.9 million in the third quarter, up 61% from $615.7 million in the same period last.
Monee’s EBITDA climbed to $258.3 million from $187.9 million a year ago, supported by a larger lending portfolio. The unit kept credit costs contained, with non-performing loans at 1.1% versus 1% in the second quarter. Loans outstanding reached $7.9 billion, up from $6.9 billion.
Sea’s gaming arm also reported its best quarter since the pandemic in 2021. According to the firm, Garena’s GAAP revenue climbed 31% to $653 million in the third quarter, while EBITDA surged to $465.9 million from $314.4 million a year earlier. Bookings also saw a significant lift, rising to $840.7 million from $556.5 million in the same period, marking a strong rebound for the gaming unit.
Sea Ltd’s share price was up 3.41% to $155.05 apiece in early trade in New York on Tuesday. The scrip has risen around 47% so far this year.
