Sea Limited achieved a major financial turnaround, moving from a $127.7 million GAAP operating loss in Q3 2023 to $202.4 million in operating income for Q3 2024.

According to "Third Quarter 2024 Results": Sea Limited achieved a major financial turnaround, moving from a $127.7 million GAAP operating loss in Q3 2023 to $202.4 million in operating income for Q3 2024.

Total adjusted EBITDA surged to $521.3 million year-over-year, supported by a strong cash position of $9.9 billion.

According to "Third Quarter 2024 Results": Total adjusted EBITDA surged to $521.3 million year-over-year, supported by a strong cash position of $9.9 billion.

Shopee reached positive adjusted EBITDA in both Asia and Brazil, with GAAP revenue growing 42.6% to $3.2 billion driven by higher commission rates and a 25% increase in ad-paying revenue per seller.

According to "Third Quarter 2024 Results": Shopee reached positive adjusted EBITDA in both Asia and Brazil, with GAAP revenue growing 42.6% to $3.2 billion driven by higher commission rates and a 25% increase in ad-paying revenue per seller.

Garena’s Digital Entertainment segment reported a 24.3% increase in bookings to $556.5 million, leading the company to raise its full-year 2024 bookings growth guidance for Free Fire to over 30%.

According to "Third Quarter 2024 Results": Garena’s Digital Entertainment segment reported a 24.3% increase in bookings to $556.5 million, leading the company to raise its full-year 2024 bookings growth guidance for Free Fire to over 30%.

Free Fire experienced a 25% year-over-year increase in daily active users, cementing its role as a primary profit driver with $314.4 million in adjusted EBITDA for the quarter.

According to "Third Quarter 2024 Results": Free Fire experienced a 25% year-over-year increase in daily active users, cementing its role as a primary profit driver with $314.4 million in adjusted EBITDA for the quarter.

Digital Financial Services revenue grew 38% to $615.7 million, with the loan book expanding over 70% to $4.6 billion while maintaining a stable non-performing loan ratio of 1.2%.

According to "Third Quarter 2024 Results": Digital Financial Services revenue grew 38% to $615.7 million, with the loan book expanding over 70% to $4.6 billion while maintaining a stable non-performing loan ratio of 1.2%.

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Key Insights

Third Quarter 2024 Results

Sea Limited~7 min full read

01
Sea Limited achieved a major financial turnaround, moving from a $127.7 million GAAP operating loss in Q3 2023 to $202.4 million in operating income for Q3 2024.
02
Total adjusted EBITDA surged to $521.3 million year-over-year, supported by a strong cash position of $9.9 billion.
03
Shopee reached positive adjusted EBITDA in both Asia and Brazil, with GAAP revenue growing 42.6% to $3.2 billion driven by higher commission rates and a 25% increase in ad-paying revenue per seller.
04
Garena’s Digital Entertainment segment reported a 24.3% increase in bookings to $556.5 million, leading the company to raise its full-year 2024 bookings growth guidance for Free Fire to over 30%.
05
Free Fire experienced a 25% year-over-year increase in daily active users, cementing its role as a primary profit driver with $314.4 million in adjusted EBITDA for the quarter.
06
Digital Financial Services revenue grew 38% to $615.7 million, with the loan book expanding over 70% to $4.6 billion while maintaining a stable non-performing loan ratio of 1.2%.

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