Sea Limited reports Q3 EPS 24c, consensus 26c

Reports Q3 revenue $4.3B, consensus $4.08B. “I’m happy to report that it has been another solid quarter. We are seeing high growth across all our three businesses,” said CEO Forrest Li. “Shopee is on track to deliver our full year guidance of mid-twenties year-on-year GMV growth. SeaMoney’s loan book grew by over 70% year-on-year this quarter, while maintaining a stable NPL ratio. And for Garena, we now expect Free Fire’s full year bookings to grow over 30% year-on-year. I am very proud that we also improved our profitability while getting back to high growth. This quarter, Shopee achieved positive adjusted EBITDA, in both Asia and Brazil. As we continue to focus on delivering growth, we expect Shopee to remain profitable going forward.”