Sea Ltd ( (SE) ) has released its Q4 earnings. Here is a breakdown of the information Sea Ltd presented to its investors.
Sea Limited, a leading global consumer internet company based in Singapore, operates in digital entertainment, e-commerce, and digital financial services sectors, with its well-known brands Garena, Shopee, and SeaMoney. The company recently reported strong financial results for the fourth quarter and full year of 2024, showcasing significant growth across all its business segments.
In 2024, Sea Limited achieved a total GAAP revenue of $16.8 billion, marking a 28.8% increase from the previous year. The company reported a total net income of $447.8 million, a substantial rise from $162.7 million in 2023. The e-commerce segment, led by Shopee, saw a 28% increase in Gross Merchandise Value (GMV) to over $100 billion, while the digital financial services segment, SeaMoney, experienced over 60% growth in its loan book. Garena, the digital entertainment arm, recorded a 34% increase in annual bookings, driven by the resurgence of its popular game, Free Fire.
Key financial metrics for the fourth quarter of 2024 include a total GAAP revenue of $5.0 billion, a 36.9% increase year-on-year, and a net income of $237.6 million, compared to a net loss of $111.6 million in the same period of 2023. The e-commerce segment generated $3.7 billion in GAAP revenue, up 41.3% year-on-year, while digital financial services and digital entertainment segments also reported robust growth.
Looking ahead, Sea Limited’s management remains optimistic about continued growth in 2025, with expectations of a 20% increase in Shopee’s GMV and double-digit growth for Garena. The company plans to enhance credit penetration in its digital financial services and expand its user base and content offerings in digital entertainment.