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# Sea reports 48% revenue growth as Shopee and Monee expand
- URL: https://www.southeastasiaconnect.com/sea-q2-2026-shopee-monee-growth/
- Published: 2026-08-12T03:21:00.000Z
- Updated: 2026-09-22T02:44:09.000Z
- Description: Second-quarter revenue reached US$7.8 billion, while Sea raised Shopee investment and kept its full-year profit target as a forward-looking goal.
- Author: Southeast Asia Connect Editors
- Tags: #sea-section-news, #sea-source-04e78e7512e9d66e0dc088fc

Sea Limited reported second-quarter 2026 revenue of US$7.8 billion, up 48.1% from a year earlier. Net income rose 10.6% to US$458.1 million, according to the company’s results released on 11 August.

## What happened

Shopee recorded US$38.3 billion in gross merchandise value, up 28.4%, and US$5.6 billion in revenue. Sales and marketing expense across the group rose 64.5% to US$1.66 billion, showing the cost of defending growth in a competitive e-commerce market. [Sea Limited Q2 2026 results](https://cdn.sea.com/investor/2Q2026/wFBC39MbqnfLb3MGY6LP/2026.08.11%20Sea%20Second%20Quarter%202026%20Results.pdf?ref=southeastasiaconnect.com)

Monee revenue increased 58.9% to US$1.4 billion. Loans outstanding reached US$11.1 billion, while the 90-day non-performing loan ratio stayed at 1.0% from the previous quarter. Garena bookings rose 15.5% to US$763.5 million.

## Why it matters

For Southeast Asian operators and investors, the quarter shows how Sea is using cash generation from several platforms to fund customer acquisition, logistics and financial services. The trade-off is clear: faster expansion is arriving with materially higher marketing spend.

## What to watch next

Sea’s chief executive said the company remains optimistic that Shopee can reach US$1 billion in full-year adjusted EBITDA. That is guidance, not an achieved result. The next test is whether transaction growth and credit expansion continue without a deterioration in margins or loan quality.

## Source note

Reported facts are attributed to Sea Limited Q2 2026 results. Issuer claims, plans and future evidence are identified separately.

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