Sea Ltd is expected to report Q3 2026 revenue of $5.82 billion and EPS of $0.79, as the stock currently trades at $112.45 compared to a consensus price target of $135.20. The primary focus for investors remains Shopee's Gross Merchandise Value (GMV) and its ability to sustain adjusted EBITDA profitability amidst intense regional competition.
Analysts are specifically looking for continued recovery in the Garena gaming segment and evidence that SeaMoney’s credit business is maintaining low loss rates while scaling. Market participants hope to see Shopee’s take rates expand further to offset increased marketing spend required to defend market share against TikTok Shop and Lazada.