Key Takeaways:
- Q2 revenue rose 48.1% to $7.788B, beating consensus of $7.275B
- Diluted EPS came in at $0.70, up 7.7% year over year
- Gross profit climbed 47.3% to $3.5B as Shopee GMV momentum continued
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Sea Limited Q2 revenue jumps 48% to $7.8B on Shopee growth
Sea Limited reported Q2 revenue of $7.788 billion, up 48.1 percent year over year and beating consensus estimates of $7.275 billion.
GuruFocus's GF Value model values Sea at $136.94 per share, implying the stock trades about 16 percent below fair value, the data provider said. The stock closed at $114.97 ahead of the earnings release.
Diluted earnings per share came in at $0.70, up 7.7 percent from a year earlier. Gross profit rose 47.3 percent to $3.5 billion, while net profit climbed 10.6 percent to $458.1 million.
Shopee, Sea's e-commerce arm, remains the primary growth engine. The platform's gross merchandise volume rose 30 percent in Q1, with revenue expanding from $3.5 billion to $5.1 billion. Monthly active buyers increased 16 percent, and VIP subscribers grew 40 percent, according to GuruFocus data. These metrics will be closely watched as Shopee faces intensifying competition from TikTok Shop, MercadoLibre, and Amazon across Southeast Asia.
The company's trailing twelve-month P/E ratio stands at 45.26x, well below its five-year median of 96.48x, reflecting valuation compression even as growth accelerates. Sea's GF Score of 79 out of 100 indicates strong overall company quality, with growth ranked nine out of 10 and financial strength at eight out of 10.
Analyst price targets range from $108 at TD Cowen to $163 at JP Morgan, with a median target of $136. Barclays set a $122 target and Bernstein set $150, according to Quiver Quantitative data. The wide dispersion reflects divergent views on Shopee's ability to sustain monetization gains.
Insider activity shows no purchases in the past six months, with insiders selling 886 times. COO Gang Ye sold 1.23 million shares valued at approximately $118.6 million, while David Y. Ma sold 1.33 million shares worth about $117.2 million. Hedge fund activity was more balanced, with 417 institutions adding shares and 403 reducing positions in the most recent quarter.
Sea's ability to sustain Shopee's monetization trajectory while defending market share will be central to the stock's performance in coming quarters. Investors will watch the earnings call for updated guidance on GMV growth and margin expansion, with the company's next major catalyst being the Q3 report expected in November.
This article is for informational purposes only and does not constitute investment advice.
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