Sea Limited, the Singapore-based tech giant, announced Monday its revenue soar 38.3 percent year on year to $6 billion in the third quarter, underpinned by growths across all sectors.

The firm said in a statement that its total gross profit also jumped 39.7 percent year on year to $2.6 billion.

Its total net income was $375 million, as compared to total net income of $153.3 million for the third quarter of 2024.

Its total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $874.3 million, as compared to $521.3 million for the third quarter of 2024.

“After a very strong first half of the year, our momentum has continued into the third quarter,

“Our focus remains the same: continuing to deliver high and profitable growth across all three of our businesses,” said Forrest Li, Sea’s Chairman and Chief Executive Officer.

“With e-commerce and digital finance penetration in our markets still low but increasing, strong growth lays the best foundation to maximize our long-term profitability,” he added.

The firm’s e-commerce revenue rose 34.9 percent year on year to $4.3 billion in the third quarter.

Its adjusted EBITDA was $186.1 million, as compared to adjusted EBITDA of $34.4 million for the third quarter of 2024.

Its gross merchandise value (GMV) was $32.2 billion for the quarter, increasing by 28.4 percent year-on-year.

“Shopee delivered another record-setting quarter, achieving new highs in quarterly GMV, gross order volume, and revenue,

“We also improved our year-on-year profitability across Asia and Brazil,” said Li.

According to him, the firm’s monetization gains, strong growth momentum, and healthy balance sheet have positioned it well to capture even more growth opportunities.

“With our strong performance year to date, we now expect Shopee’s full-year 2025 GMV growth to be more than 25 percent,” he added.

As for digital financial services, the segment’s revenue was $989.9 million, up 60.8 percent year-on-year.

The segment’s adjusted EBITDA was $258.3 million, up 37.5 percent year-on-year.

“Monee has delivered another very strong quarter, driven by both user growth and product expansion across multiple markets,

“Our portfolio quality and our unit economics have remained healthy,” said Li.

He added the firm is extending SPayLater’s reach beyond ecommerce and embedding it into users’ everyday financial use cases, building a pathway for strong off-Shopee growth for many years to come.

As for digital entertainment, the segment’s revenue was $653 million, up 31.2 percent year-on-year.

The segment’s adjusted EBITDA was $465.9 million, up 48.2 percent year-on-year.

“Garena has delivered another stellar quarter. Bookings were up 51 percent year-on-year, making it our best quarter since 2021,

Its bookings were $840.7 million, up 51.1 percent year-on-year.

“Free Fire anchored this strong performance with two high-impact campaigns: Squid Game and NARUTO SHIPPUDEN Chapter 2,” Li said.

With this very strong quarter, he said Garena remains on track to achieve more than 30 percent year-on-year growth in bookings for 2025.

Singapore’s Sea Ltd partners with OpenAI on new ways to shop