Sea Limited posts $534m profit in Q1

It reversed a year-ago loss of $30m.

Sea Limited has posted a net income of $533.9m (US$410.8m) for the first quarter ended 31 March 2025, swinging from a net loss of $30m (US$23m) in the same period a year ago.

The group's revenue also rose 29.6% year-on-year to $6.24b (US$4.8b), whilst gross profit jumped 43.9% to $2.86b (US$2.2b).

Shopee, Sea's e-commerce arm, generated $4.55b (US$3.5b) in revenue, up 28.3%. Gross orders rose 20.5% to 3.1 billion, and GMV increased 21.5% to $37.2b (US$28.6b).

Its fintech division, recently rebranded from SeaMoney to Monee, posted $1.02b (US$787.1m) in revenue, a 57.6% increase. Adjusted EBITDA rose 62.4% to $313.8m (US$241.4m).

SEA’s gaming division, Garena, recorded its best quarter since 2021. Total bookings rose 51.4% to $1.01b (US$775.4m), whilst GAAP revenue reached $643.8m (US$495.6m), up from $594.9m (US$458.1m) a year ago.

The group credited the Free Fire and Naruto collaboration in January for boosting average daily active users (DAUs) to near-pandemic peak levels.