AMZ123 has learned that Sea Limited, the parent company of Shopee, recently released its third quarter 2026 financial results.

The report showed quarterly GAAP total revenue of $8.6 billion, up 43.4% year over year; net profit of $503 million, up 34%; adjusted EBITDA of $931 million, up about 28.9%; and gross profit rose to $3.9 billion, up 51.4% year over year.

The group's growth was mainly driven by its e-commerce segment Shopee, while the financial services business SeaMoney and the gaming segment Garena also maintained positive growth.

Data showed that Shopee posted quarterly GAAP revenue of $6.1 billion, up 41.3% year over year, a record high. Core revenue, mainly from transaction commissions and advertising, reached $4.6 billion, up 50.6% year over year and serving as the main growth driver. Logistics-related value-added service revenue was roughly flat at about $724 million, while first-party sales revenue was $749 million. Core marketplace and logistics-related revenue together totaled $5.3 billion, up 40.9% year over year. Platform monetization continued to strengthen: advertising revenue rose more than 55% year over year, the number of sellers advertising increased more than 35%, and the advertising monetization rate improved by more than 8 basis points.

Operating data also improved. Shopee's gross merchandise volume reached $39.7 billion, up 23.3% year over year, or about 26.5% on a currency-neutral basis. Total orders reached 4.5 billion, up 25.5% year over year. Monthly active buyers rose 20% year over year, and the growth rate of new active buyers exceeded 50%.

Delivery capabilities continued to improve, with next-day delivery and faster parcels growing more than 60%, outpacing overall order growth. Shopee's VIP membership program performed strongly, with membership exceeding 21 million, up more than 40% quarter over quarter. VIP members contributed nearly 25% of GMV, monthly retention remained around 80%, and average order value generally saw double-digit growth after membership activation. The livestream and short-video business turned profitable this quarter.

In terms of profitability, Shopee's adjusted EBITDA reached $269 million, up 44.7%-45% year over year, setting a new quarterly profit high since the business was founded and rising quarter over quarter. Management noted that strategies to acquire customers, improve monetization efficiency, and optimize per-customer costs are being steadily implemented. Full-year targets remain unchanged: GMV growth of about 25% and adjusted EBITDA of $1 billion.

Overall, Shopee is steadily expanding in core Southeast Asian markets and Brazil, using advertising, membership, and fulfillment systems to raise profits and support the group's overall performance.

In other segments, the financial services business SeaMoney posted revenue of $1.6 billion, up 63.9% year over year, with loan balances to individuals and SMEs reaching $12.6 billion, up 60% year over year. The gaming segment Garena maintained steady growth.

Author: TEN/AMZ123

AMZ123 Commentary

Sea's earnings confirm Shopee's growth resilience. Cross-border sellers can watch the traffic dividend behind the dual growth in users and GMV. Sellers are advised to closely follow the platform's peak-season support policies and localized operational pace, and promptly optimize product selection and fulfillment strategies to capture incremental growth.

Source: Cross-border Platform News
Original link: https://www.amz123.com/t/v339dGP0