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Operating Income by Segment
Operating profit or loss reported separately for each business unit (e.g., Shopee, Garena, SeaMoney), showing which businesses generate earnings and which consume cash. Segment-level operating income helps identify sustainable engines of profit versus areas that may require capital or strategic change.Sea Limited's e-commerce segment, Shopee, has seen a notable recovery in operating income since late 2022, aligning with recent earnings call highlights of strong GMV and ad revenue growth. Despite challenges in Latin American markets, strategic investments in logistics and AI have bolstered Shopee's performance. Meanwhile, digital financial services continue to expand robustly, and Garena's digital entertainment segment is experiencing a resurgence, marking its best quarter since 2021. However, e-commerce margins remain pressured, reflecting ongoing investments to enhance operational efficiency.
Date | Digital Entertainment | Ecommerce | Digital Financial Services | Other Services | Unallocated Expenses |
|---|---|---|---|---|---|
Sep 30, 2025 | $309.81M | $110.12M | $248.18M | -$27.04M | -$165.12M |
Jun 30, 2025 | $275.46M | $154.85M | $243.12M | -$15.68M | -$170.03M |
Mar 31, 2025 | $220.03M | $195.00M | $228.61M | -$11.01M | -$176.24M |
Dec 31, 2024 | $270.14M | $79.48M | $197.86M | -$10.11M | -$231.62M |
Sep 30, 2024 | $262.40M | -$36.82M | $173.94M | -$11.00M | -$186.11M |
Jun 30, 2024 | $210.08M | -$84.76M | $151.26M | -$9.00M | -$184.68M |
Mar 31, 2024 | $236.20M | -$97.33M | $134.44M | -$13.79M | -$188.43M |
Dec 31, 2023 | $261.06M | -$303.68M | $134.21M | -$9.56M | -$138.54M |
Sep 30, 2023 | $345.76M | -$428.18M | $150.47M | -$11.70M | -$184.08M |
Jun 30, 2023 | $296.46M | $65.55M | $120.97M | -$10.03M | -$189.13M |