Sea Limited Posts $8.6B Q3 Revenue, Up 43%, and Eyes Monee Listing Within 1 to 3 Years

SE reported third-quarter 2026 revenue of $8.6 billion, up 43% from a year earlier. According to the company's results as summarized by TipRanks, net income was $502.5 million, adjusted EBITDA rose 28.9% to $931.3 million, Shopee gross merchandise volume grew 23.3% to $39.7 billion, and Monee revenue climbed 63.9% to $1.6 billion. Investing.com reported EPS of $0.78 against a $0.99 forecast, a miss on the bottom line despite the revenue beat.

The headline strategic item was Monee, whose loan book reached $12.6 billion, up 60%. On the November 10 call, CEO Forrest Li said "We hope to list the Monee at the right time in the next 1 to 3 years," arguing a stand-alone listing would give the unit a dedicated capital base, while stressing the company would approach it carefully and is "not in any rush." Management also described a lean cloud unit focused on software and agentic workflow automation rather than owning large amounts of physical capacity, and Shopee's instant delivery now reaches customers in as little as one hour in key urban hubs.

For the full year, Li said Sea remains on track for GMV growth of around 25% and adjusted EBITDA of $1 billion, with the CFO describing the commitment as more than $1 billion. The board also approved an additional $1.0 billion buyback after Sea repurchased 11.1 million shares for $997.2 million. Items to watch include any concrete Monee listing timetable, credit quality as the loan book grows 60% a year, and whether the EPS shortfall versus estimates persists into the fourth quarter.