E-commerce, Payments, or Gaming: Which Part of Sea Do You Use the Most?
$Sea Ltd(SE)$ jumps 7% after its earnings beat, especially EBITDA beats 44.2%. Net income of $410.8 million for Q1, compared with a year-earlier loss.
Adjusted EPS: 0.65 vs. 0.80 (-18.66% miss)
GAAP EPS: 0.65 vs. 0.596 (9.14% beat)
Revenue: 4.841B vs. 4.885B (-0.90 miss)
EBITDA: 946.5M vs. 657.2M (44.2% beat)
Let’s see how three businesses work in the last quarter!
1. Shopee revenue surges: price hikes + operational efficiency improves
Shopee’s revenue rose 28% yoy to $3.5 billion in Q1 2025 — a standout performance amid a broader slowdown and fierce competition from TikTok Shop, Lazada, and Temu.
Shopee has demonstrated strong pricing power in the region, raising merchant commissions by about one-third since early last year. Its commission rates are now higher than competitors’, yet sellers remain on the platform — a sign of its superior traffic and conversion capabilities.
Sales and marketing expenses as a percentage of GMV have declined. Cost control measures, including layoffs, have significantly improved profitability.
2. Monee: high-growth fintech surpasses Garena in revenue
Loan principal outstanding grew over 75% YoY; More than 4 million first-time borrowers added
For the first time, Monee’s revenue surpassed Garena, signaling that fintech has become a new strategic core for Sea.
Monee now covers a broad range of digital financial products — including payments, credit, and insurance — which helps boost Shopee’s user stickiness and transaction frequency. Looking ahead, fintech may become a high-margin growth engine.
3. Garena: strong comeback with higher profitability
Total bookings up 51% YoY; Adjusted EBITDA up 57% YoY; Quarterly paying users beat expectations, rising 21.62% YoY
These figures show that Garena’s core user base is reactivating, and it may be attracting a new wave of players. Management reaffirmed their confidence in achieving double-digit YoY growth in both Garena’s user base and bookings for 2025.
4. Sea Products in Daily Life: What’s Your Pick?
Among your friends, which platform do they use the most — Shopee, Lazada, TikTok Shop, or Amazon?
What about you, where do you shop most often?
For payments, do you prefer SeaMoney (Monee) or GrabPay? $Grab Holdings(GRAB)$
Or have you switched entirely to Apple Pay or credit cards?
And if you have kids at home, are they fans of Free Fire, Arena of Valor, or Call of Duty?
We’d love to hear your experience and perspective on Sea’s products!
Post directly in the topic:Sea Core Businesses on Fire: Hold Tight Till $200? or leave your comments on this post to win tiger coins~
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I use shopee the most that it kinda became my go to platform for online shopping.
I like that they have restructured, remodelled their business model to become more efficient and have come up with promotion ideas to lure shoppers. though I have to admit some of their things are not cheap.
$Sea Ltd(SE)$ jumps 7% after its earnings beat, especially EBITDA beats 44.2%. Net income of $410.8 million for Q1, compared with a year-earlier loss.
Shopee revenue surges: price hikes + operational efficiency improves
Among your friends, which platform do they use the most — Shopee, Lazada, TikTok Shop, or Amazon?
What about you, where do you shop most often?
leave your comments on this post to win tiger coins~
-收入同比增长30%至48.4亿美元
-净利润4.11亿美元，上年同期亏损2300万美元
-调整后EBITDA同比飙升136%至9.47亿美元
报告后公司股价大涨超13%，反映市场对其盈利拐点的认可。尽管面临挑战，Sea Ltd对实现2025年战略目标充满信心。
我自己平常也會用Lazada或偶爾刷刷TikTok Shop，但實話說，TikTok雖然“種草”能力強，刷得爽，但真要下單還得多比較，很多時候反而是回到Shopee來買。亞馬遜？更別提了，國際運費不友好，而且速度慢，不適合買日常小物。
至於支付，我現在大多還是用信用卡，偶爾也會用Apple Pay。但我觀察到年輕一代，包括我小侄子，是真的有在用SeaMoney的。他說在Shopee上結賬特別順，綁定好錢包還能拿到額外折扣。這點GrabPay也類似，但我個人對Grab更是停留在打車和外賣層面，用來支付日常消費的頻率並不高。
如果聊遊戲，我家小表弟已經迷上《自由射擊》和《英勇競技場》，每天下課第一件事就是上線“排位賽”。這兩款遊戲在SEA市場的滲透率很高，而且社區氛圍強、更新節奏快，玩家留存率比我預期還高。Sea旗下的Garena雖然最近被說得挺多，但就用戶體驗來說，它依然是很多青少年最主要的“社交空間”。
所以你問我，Sea這波股價有沒有可能衝到200美元？我不敢打包票，但至少從用戶體驗和生態黏性來看，它確實是少數能把“電商+支付+娛樂”三位一體打通的平臺。在東南亞這種增速快、人口結構年輕的市場，它不火誰火？只要管理層穩住節奏，200美元不是夢——只要你願意等。
As for payment, I still prefer credit card major banks. Better promotions and " sure" get cash back.