TLDR
- Sea Limited stock surged 6.1% in pre-market trading after Q2 2026 revenue hit $7.8 billion, beating the $7.09-$7.34 billion consensus forecast.
- CEO Forrest Li confirmed strong momentum continued from Q1, with Shopee posting record GMV, gross order volume, and revenue.
- Management reaffirmed full-year 2026 guidance of ~25% Shopee GMV growth and EBITDA no lower than 2025 levels.
- Sea confirmed 4.7 million shares bought back under its $1 billion repurchase program.
- COO Gang Ye has been selling 20,000 SE shares repeatedly since July 13, totaling over $22 million in sales.
Sea Limited (NYSE: SE) stock jumped 6.1% in pre-market trading on August 11, hitting $121.76, after the company posted Q2 2026 revenue of $7.8 billion. That came in well above the analyst consensus range of $7.09 to $7.34 billion.
The broader market barely moved on the day, with the S&P 500 up just 0.1% and the Nasdaq gaining 0.3%. This move is all about earnings.
CEO Forrest Li said “our strong momentum from the first quarter has continued into the second,” pointing to record highs across Shopee’s GMV, gross order volume, and revenue.
SEA LTD $SE EARNINGS ARE OUT!
🔴 EPS: $0.70 | Est. $0.76
🟢 REV: $7.79B | Est. $7.09B
IMPLIED MOVE TODAY: ±11.14%!! pic.twitter.com/UZVnE5ytlX— Schaeffer's Investment Research (@schaeffers) August 11, 2026
Q1 2026 had already set a high bar. Revenue rose 47% year-over-year that quarter and adjusted EBITDA topped $1 billion for the first time.
Sea’s three-segment model covers Shopee in e-commerce, Monee in digital financial services, and Garena in digital entertainment.
Management kept its full-year 2026 guidance intact. That means roughly 25% Shopee GMV growth and adjusted EBITDA no lower than 2025 levels in dollar terms.
Analysts had flagged guidance as the single most important test of this print. It passed.
Sea also confirmed continued execution of its $1 billion share repurchase program, disclosing it had bought back 4.7 million shares.
Heading into the report, options markets had priced in a roughly 19% swing. The outcome landed on the bullish side of that range.
JPMorgan and Barclays both held Overweight ratings on the stock going into earnings. Barclays had a price target of $122.00 on SE.
The broader analyst consensus sits at “Moderate Buy” with an average price target of $154.81, according to MarketBeat data.
COO Selling Pattern Draws Attention
While the earnings reaction was positive, COO Gang Ye has been a consistent seller. Since July 13, he has sold 20,000 SE shares in each reported transaction, with prices ranging from $99.91 to $114.59.
His most recent sale on August 7 was at $113.17 per share, generating $2.26 million. Following that transaction, he directly owned 480,000 shares, down 4% from his prior holding.
In total, Ye has executed at least 11 separate sale transactions since mid-July, representing over $22 million in proceeds.
Analyst Ratings and Valuation
SE opened Tuesday at $114.81. The stock has a 50-day moving average of $99.67 and a 200-day moving average of $96.63.
The company carries a market cap of $70.15 billion and a price-to-earnings ratio of 45.20. Its 52-week range runs from $77.05 to $199.30.
Institutional investors hold 59.53% of the stock. Recent buyers include OVERSEA CHINESE BANKING Corp, which grew its position by 24.4% in Q4, and Charles Lim Capital, which increased its stake by 172.7%.
TD Cowen moved its price target down to $100 with a Hold rating on August 4, while Jefferies and Sanford C. Bernstein maintained Buy and Outperform ratings respectively.
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