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~
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I use shopee the most that it kinda became my go to platform for online shopping.
I like that they have restructured, remodelled their business model to become more efficient and have come up with promotion ideas to lure shoppers. though I have to admit some of their things are not cheap.
$Sea Ltd(SE)$ 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.
Shopee revenue surges: price hikes + operational efficiency improves
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?
leave your comments on this post to win tiger coins~
- 30% YoY revenue growth to $4.84 billion
- Net profit of $411 million, vs. a loss of $23 million in the same period last year
- Adjusted EBITDA surged 136% YoY to $947 million
The company's stock price surged over 13% after the report, reflecting market recognition of its profit inflection point. Despite challenges, Sea Ltd is confident in achieving its 2025 strategic goals.
我自己平常也会用Lazada或偶尔刷刷TikTok Shop，但实话说，TikTok虽然“种草”能力强，刷得爽，但真要下单还得多比较，很多时候反而是回到Shopee来买。亚马逊？更别提了，国际运费不友好，而且速度慢，不适合买日常小物。
至于支付，我现在大多还是用信用卡，偶尔也会用Apple Pay。但我观察到年轻一代，包括我小侄子，是真的有在用SeaMoney的。他说在Shopee上结账特别顺，绑定好钱包还能拿到额外折扣。这点GrabPay也类似，但我个人对Grab更是停留在打车和外卖层面，用来支付日常消费的频率并不高。
如果聊游戏，我家小表弟已经迷上《自由射击》和《英勇竞技场》，每天下课第一件事就是上线“排位赛”。这两款游戏在SEA市场的渗透率很高，而且社区氛围强、更新节奏快，玩家留存率比我预期还高。Sea旗下的Garena虽然最近被说得挺多，但就用户体验来说，它依然是很多青少年最主要的“社交空间”。
所以你问我，Sea这波股价有没有可能冲到200美元？我不敢打包票，但至少从用户体验和生态黏性来看，它确实是少数能把“电商+支付+娱乐”三位一体打通的平台。在东南亚这种增速快、人口结构年轻的市场，它不火谁火？只要管理层稳住节奏，200美元不是梦——只要你愿意等。
As for payment, I still prefer credit card major banks. Better promotions and " sure" get cash back.