• Sea Limited announced its third quarter 2025 financial results before the market opened on November 11, generating significant attention due to strong prior performance.

• Last quarter, Sea surpassed revenue forecasts and delivered nearly one-third year-on-year growth, boosting optimism as investors awaited new results.

• With anticipation high after previous earnings outperformed expectations, we will now explore what this quarter’s release means for Sea’s investment outlook.

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To be a shareholder in Sea Limited, you ultimately need conviction in the company’s potential to drive sustained revenue and user growth through e-commerce, digital finance, and gaming in fast-growing markets like Southeast Asia and Brazil. While the latest earnings call was highly anticipated due to last quarter’s strong results and upbeat analyst expectations, there are no material new developments from this announcement that would meaningfully alter the most important near-term catalyst, persistent user expansion and monetization, and the primary risk of rising competition in core regions.

One recent highlight is Sea’s robust Q2 2025 results, which reported US$5,259.48 million in revenue (up year-on-year) and net income of US$414.2 million, supporting investor focus on continued top-line momentum. This performance remains relevant given ongoing optimism around user and payment growth, but also reinforces how critical it is for Sea to maintain its lead as rivals ramp up efforts across digital commerce and financial services.

However, in contrast to the positive momentum, investors should be aware of emerging competitive threats in Brazil and Southeast Asia, especially as…

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Sea’s outlook anticipates $33.2 billion in revenue and $4.7 billion in earnings by 2028. This scenario assumes a 19.7% annual revenue growth rate and a $3.5 billion increase in earnings from the current $1.2 billion level.

Uncover how Sea’s forecasts yield a $196.66 fair value, a 27% upside to its current price.

Seventeen Simply Wall St Community members estimate fair value between US$153.42 and US$287.69 per share, indicating wide variation in outlooks. In light of recent news, these differing views highlight the impact that intensifying competition could have on Sea Limited’s future path.

Explore 17 other fair value estimates on Sea – why the stock might be worth just $153.42!