Sea Limited’s stock rose 10.2% following Q1 2026 earnings, driven by better-than-expected revenue growth and margin expansion, particularly from strong monetization gains and improving logistics economics across key markets.

• Revenue surpassed $7 billion, growing 47% year-on-year.
• Adjusted EBITDA exceeded $1 billion for the first time, reflecting disciplined cost management amid ongoing growth investments.
• Shopee’s GMV grew 30% year-on-year with significant gains in advertising revenue (+80%) and an increased ad take rate (+90 basis points).
• Operational efficiencies in logistics, including a 20% reduction in cost per order for instant delivery and expanded fulfillment services, are driving improved unit economics.
• Brazil emerged as the fastest-growing and profitable market, supported by broad product assortment and logistics cost advantages.