Sea Ltd. Reports Q3 2024 Results

Sea Ltd. (NYSE: SE) experienced a 7% surge in premarket trading on Tuesday after announcing better-than-expected revenue for Q3 FY 2024.

The company reported an earnings per share (EPS) of $0.24, meeting analysts' expectations.

Revenue soared over 30% year-over-year, reaching $4.33 billion, surpassing the consensus estimate of $4.08 billion.

Segment Revenue Breakdown

• E-commerce: $3.18 billion (expected: $2.99 billion)
• Digital Entertainment: $497.8 million (estimated: $474.7 million)
• Digital Financial Services: $615.7 million (forecast: $547.3 million)

Sea's adjusted EBITDA stood at $521.3 million, significantly above the expected $480.9 million.

Forrest Li, Sea’s Chairman and CEO, stated, “I’m happy to report that it has been another solid quarter. We are seeing high growth across all our three businesses.”

Regarding Shopee, Li mentioned, “Shopee is on track to deliver our full-year guidance of mid-twenties year-on-year GMV growth.” He emphasized, “I am very proud that we also improved our profitability while getting back to high growth. This quarter, Shopee achieved positive adjusted EBITDA, in both Asia and Brazil. As we continue to focus on delivering growth, we expect Shopee to remain profitable going forward.”