Sea Limited Q4 Revenues Climb 38.4% to $6.9B Despite EPS Miss
Sea Limited’s Q4 adjusted EPS rose 29% Y/Y to $0.80 yet fell 11.1% short of estimates, as revenues climbed 38.4% to $6.9 billion led by Shopee’s $5 billion sales. The company held $4.16 billion cash, set 2026 Shopee GMV growth at ~25% and won a Strong Buy upgrade on its strengthened balance sheet.
1. Q4 Financial Results
Sea Limited reported adjusted EPS of $0.80, up 29% year-over-year but 11.1% below consensus estimates. Total revenue reached $6.9 billion, a 38.4% increase that modestly exceeded forecasts by 0.65%.
2. Segment Performance
Shopee generated $5 billion in Q4 revenue (+35.8% Y/Y) with GMV up 28.6% to $36.7 billion. Monee revenues grew 54.3% to $1.1 billion with loan principal outstanding at $9.2 billion (+80%), and Garena posted $701 million (+35.1%) with 633.3 million active users.
3. Balance Sheet, Guidance and Upgrade
Cash and equivalents rose to $4.16 billion, and the company repurchased $14.5 million of shares. Shopee’s full-year 2026 GMV is guided to grow around 25%, and the firm received a Strong Buy upgrade reflecting its strengthened balance sheet.