Singapore technology giant Sea Ltd has achieved higher revenue and profit in the first quarter ended March 31, 2026, as its e-commerce arm Shopee delivered another record quarter.

Sea said in a statement on Tuesday that its quarterly revenue jumped 46.6 percent year on year to $7.1 billion.

The company also achieved gross profit of $3.1 billion, up 40.7 percent year-on-year, and net income of $438.2 million, up 6.7 percent year-on-year.

The firm’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) also increased by 9.3 percent year-on-year to $1 billion.

“We have had a strong start to the year. 2026 is a year where we are leaning in to deepen our competitive moats, while maintaining financial discipline. Our strong revenue growth reflects the effectiveness of these investments, and we are already seeing unit economics start to improve for some of these initiatives,

“We believe this is the right approach to maximize long-term value, given the significant runway for growth still ahead of us in our markets,” said Forrest Li, Sea’s Chairman and Chief Executive Officer.

Shopee’s gross merchandise value for the quarter grew 30.2 percent year on year to $37.3 billion. Its revenue also jumped 45.1 percent year on year to $5.1 billion.

Its adjusted EBITDA was $223.2 million, as compared to $264.4 million for the first quarter of 2025.

“Shopee delivered another record-setting quarter, achieving new highs in GMV, gross order volume, and revenue while maintaining financial discipline. Looking ahead, we are confident in the strength of our Shopee ecosystem and our ability to execute our strategies,

“We are on track to deliver our 2026 guidance: to grow Shopee’s annual GMV by around 25 percent year-on-year, with full year adjusted EBITDA no lower than 2025 in absolute dollar terms,” said Li.

Meanwhile, digital financial services Monee’s revenue surged 57.8 percent year on year $1.2 billion. Its adjusted EBITDA also up 14 percent to $275.2 million.

“Monee continues to grow healthily while maintaining stable asset quality. Expansion into more user segments, off-Shopee use cases, and early markets like Brazil are giving us a much larger addressable opportunity across our portfolio,

“We remain confident that Monee will be a significant long-term profit contributor for Sea,” said Li.

Gaming arm Garena’s revenue also soared 40.6 percent year on year to $696.6 million during the quarter. Its adjusted EBITDA was $573.6 million, up 25.2 percent year-on-year.

“Garena had a stellar start to 2026, delivering its best quarter since 2021. This performance was driven by the continued strength of Free Fire, alongside a record contribution from Arena of Valor,

“The sustained success of both games demonstrates our unique ability to operate games well across genres, in multiple markets, and over long periods of time. We will remain focused on delivering fresh experiences and building the long-term value of our game portfolio,” said Li.

On the growing role of artificial intelligence (AI), he said the management has taken a practical, results-oriented approach, embedding AI into its operations to drive better outcomes for its users and greater efficiency across its platform.

“Across our ecosystem, we see the AI era as creating significant opportunities for a company like ours – with established scale, rich cross-vertical data, and deep local expertise,” he added.

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