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~

A tool to boost your purchasing power and trading ideas with CashBoost! Open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with upcoming 0-commission, unlimited trading on SG, HK, and US stocks, as well as ETFs. Find out more here.

Other helpful links:

• 💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉

• How to open a CBA. How to link your CDP account. Other FAQs on CBA.

• Cash Boost Account Website.