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May 13, 2026 4:00 PM

Sea Posts Q1 Beat On Record Shopee Revenue Growth

Shares of Sea Ltd (NYSE:SE) were trading lower on Wednesday, after rallying on Tuesday after the company reported upbeat first-quarter results.

The company's strong quarterly results "shifted market perception toward a more balanced investment approach," according to Benchmark.

The Sea Analyst: Analyst Fawne Jiang reiterated a Buy rating and price target of $140.

The Sea Thesis: The company reported GAAP revenue of $7.1 billion, up 47% year-on-year, which topped consensus on broad-based strength, Jiang said in the note.

Check out other analyst stock ratings.

He added that:

Shopee delivered another record quarter with GMV (gross merchandize value) growth of 30% year-on-year, which drove e-commerce revenue growth of 45%

Monee's revenue grew 58% on 71% loan book growth

Garena delivered its best performance since 2021, with revenue grew 41% on 20% bookings growth

Margins came under pressure, with Shopee's adjusted EBITDA contracted due to higher investments, while Monee's ...