Sea Limited Stock Surges 6.1% in Pre-Market After Q2 2026 Revenue Beat and Raised Shopee Guidance

Sea Limited reported Q2 2026 revenue of $7.8B (+48% YoY), beating estimates, with record Shopee GMV of $38.3B. Raised full-year Shopee adjusted EBITDA guidance to $1B and continued $1B buyback. Shares surged 6.1% pre-market.

Sea Limited (NYSE: SE) shares jumped 6.1% to approximately $121.76–$121.80 in pre-market trading on August 11, 2026, after the Singapore-based technology conglomerate reported second-quarter results that substantially exceeded analyst expectations. GAAP revenue reached about $7.8 billion (precisely $7.79 billion in some reports), up 48.1% year-over-year, versus consensus forecasts in the $7.06–$7.34 billion range. CEO Forrest Li highlighted continued strong momentum, with Shopee achieving record highs in GMV, gross orders, and revenue.

Sea Q2 Revenue Hits $7.8B, Beats Estimates

In the second quarter ended June 30, 2026, Sea posted GAAP revenue of US$7.8 billion (up 48.1% year-on-year), gross profit of US$3.5 billion (up 47.3%), net income of US$458.1 million (up 10.6%), and adjusted EBITDA of US$917.2 million (up 10.6%).

Shopee delivered the strongest contribution: gross orders hit a record 4.2 billion (+27.5% YoY), GMV reached a record US$38.3 billion (+28.4% YoY), and GAAP revenue rose to US$5.6 billion (+48.2% YoY). Core marketplace revenue (primarily transaction fees and advertising) surged 65.6% to US$4.3 billion. Shopee adjusted EBITDA climbed 12.2% to US$255.4 million. Management raised its full-year 2026 Shopee adjusted EBITDA outlook to US$1 billion, up from the prior guidance of levels no lower than 2025 in absolute dollar terms, while reiterating approximately 25% Shopee GMV growth for the year.

Monee (digital financial services) revenue grew 58.9% to US$1.4 billion, with adjusted EBITDA up 12.8% to US$288.0 million. Consumer and SME loans principal outstanding reached US$11.1 billion (+62.5% YoY). Garena bookings rose 15.5% to US$763.5 million.

Under its US$1 billion share repurchase program, Sea bought back 4.7 million shares for an aggregate US$416.8 million during the quarter, signaling management confidence.

This follows a strong Q1 2026, when group revenue rose 47% to $7.1 billion and adjusted EBITDA surpassed $1 billion for the first time.

Earnings Beat and Guidance Raise Drive Sea Stock Higher

The decisive top-line beat (roughly 9–10% above the midpoint of consensus), record Shopee operating metrics, upward revision to Shopee full-year adjusted EBITDA guidance to $1 billion, and ongoing execution of the buyback program resolved pre-earnings uncertainty. Options markets had priced in a roughly 19% swing around the report. The broader market offered little support—the S&P 500 was up just 0.1% and the Nasdaq 0.3%—making the move almost entirely earnings-driven. Major banks including JPMorgan and Barclays had maintained Overweight/Buy ratings heading into the print.

Sea Limited Delivers Strong 2025 Results as Shopee Leads SEA E-Commerce Growth

Sea operates a three-segment model: e-commerce via Shopee (the largest pan-regional platform in Southeast Asia and Taiwan, with meaningful Latin America presence), digital financial services via Monee, and digital entertainment via Garena. In full-year 2025, the company reported GAAP revenue of US$22.9 billion (+36.4% YoY), net income of about US$1.58–1.6 billion, and total adjusted EBITDA of US$3.4 billion. Shopee full-year 2025 GMV was approximately $127 billion, with adjusted EBITDA of $881 million. The $1 billion buyback program was authorized in November 2025. Competitive dynamics in Southeast Asian e-commerce remain intense (notably versus TikTok Shop), but Shopee has sustained leadership while improving monetization through advertising and transaction fees.

Investors Watch Shopee’s $1B EBITDA Target, Monee Credit Quality, and Buyback Progress

Investors will focus on whether Shopee can deliver the newly raised $1 billion full-year adjusted EBITDA target alongside ~25% GMV growth, continued loan-book expansion and credit quality at Monee (non-performing loans past due >90 days were stable at 1.0%), and Garena’s bookings trajectory. Further progress on the remaining portion of the $1 billion buyback and any updates on unit economics or competitive intensity will be closely watched in coming quarters. The company will host a conference call and webcast to discuss the results.