On May 12, Sea Ltd rose 11.33% in regular trading, trading at $94.115/share, with trading volume of $236 million. The rally was driven by the company's first-quarter earnings release, which significantly exceeded market expectations.
Sea Ltd reported Q1 GAAP total revenue of $7.1 billion, up 46.6% year-over-year, well above the consensus estimate of $6.413 billion. Gross profit reached $3.1 billion, up 40.7%, while net income came in at $438 million, up 6.7%. Consolidated adjusted EBITDA grew 9.3% to $1 billion. The digital financial services arm Monee delivered standout results, with revenue surging 57.8% to $1.2 billion and adjusted EBITDA rising 14% to $275 million. Quarterly active users climbed to 667 million, with the paid user ratio improving to 10.9%. The company reaffirmed its full-year 2026 guidance for 25% GMV growth and projected full-year adjusted EBITDA at no less than the prior year's level.
Notably, Sea Ltd's strong performance stood in contrast to broader weakness in the Broadline Retail sector. Among peers, Amazon.com fell 1.3%, Alibaba dropped 1.31%, PDD Holdings declined 1.56%, MercadoLibre slipped 0.46%, while JD.com rose 1.87%.
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