Sea Limited Q1 Earnings Preview: What to Expect

Sea Limited (NYSE: SE) is scheduled to release its first-quarter 2026 financial results before the U.S. market opens on Monday, May 12, 2026.

According to Yahoo Finance’s analyst consensus, Sea is expected to report revenue of $6.4 billion and earnings per share of $0.77 for the first quarter.

Sea has missed earnings estimates in each of the past four quarters, with an average negative earnings surprise of 14.26%.

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The company operates three segments: the Shopee e-commerce platform, Monee digital financial services, and the Garena gaming division.

In its most recent quarter, Q4 2025, Sea reported revenue of $6.9 billion — beating estimates by 6.3% — while GAAP EPS of $0.63 fell short of the $0.80 forecast. For the full year 2025, Sea posted record revenue of $22.9 billion, up 36.4% year-over-year, and net income of $1.6 billion, more than tripling from $448 million in 2024.

Management guided for approximately 25% GMV growth at Shopee in 2026 and double-digit bookings growth at Garena. Shopee’s adjusted EBITDA is expected to be no lower than its 2025 level of $881 million.

Monee’s loan book grew 80% year-over-year to $9.2 billion as of Q4, though rising loan-loss provisioning costs — up 66.7% in the quarter — weighed on profitability.

Sea’s stock has faced pressure since the Q4 report on March 3, 2026, when shares fell roughly 15%, bringing the price to around $88 — well below its 52-week high of $199.

Wall Street analysts maintain a mean price target of $139.39, with major firms including Jefferies and Benchmark both carrying Buy ratings on the stock.