Sea doubles profit to US$375 million for Q3

[SINGAPORE] Sea reported on Tuesday (Nov 11) a 144.6 per cent increase in its third-quarter earnings to US$375 million, from US$153.3 million for the year-ago period.

The group’s revenue grew to US$6 billion, up 38.3 per cent from US$4.3 billion in the corresponding period the year before.

Garena, Sea’s digital entertainment arm, had its best quarter for bookings since 2021. They grew 51.1 per cent to US$840.7 million in Q3 2025.

Digital entertainment revenue grew 31.2 per cent year on year to US$653 million, following two “high-impact” campaigns by its mobile game Free Fire. They were collaborations with Netflix show Squid Game and Japanese animated series Naruto Shippuden.

Garena remains on track to achieving more than 30 per cent year-on-year growth in bookings for 2025, said Sea.

The group’s e-commerce segment saw a “record-setting quarter”, with revenue from Shopee growing 34.9 per cent year on year to a high of US$4.3 billion, on the back of improved profitability across Asia and Brazil.

Gross orders for this segment increased by 28.4 per cent year on year to 3.6 billion while gross merchandise value, or GMV, was up 28.4 per cent at US$32.2 billion. Li expects Shopee’s full-year GMV growth to be more than 25 per cent.

Revenue from digital financial services arm Monee, meanwhile, rose 60.8 per cent to US$989.9 million driven by user growth and product expansion across multiple markets, said Sea.

“After a very strong first half of the year, our momentum has continued into the third quarter,” said Forrest Li, Sea’s chairman and chief executive officer.

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“Our focus remains the same: continuing to deliver high and profitable growth across all three of our businesses. 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.”

Shares of Sea closed 3.4 per cent or US$5.11 higher at US$155.05 on the New York Stock Exchange on Monday.