On August 12, Sea Ltd declined 3.11% in regular trading, trading at $127.09/share, with turnover of $202 million. The pullback follows a surge of over 13% in the prior session after the company released its Q2 earnings report.

On the news front, while Q2 revenue of $7.79 billion came in sharply above the consensus estimate of approximately $7.06 billion, representing 48.1% year-over-year growth, earnings per share of $0.70 missed analyst expectations of $0.75-$0.77, providing a catalyst for profit-taking among holders who rode the prior session's rally. Shopee revenue jumped 48.9% to $4.9 billion with GMV rising 28.4% to $38.3 billion and total orders up 27.5% to 4.2 billion. SeaMoney revenue surged 58.9% to $1.4 billion. Management maintained its target for Shopee to achieve $1 billion in adjusted EBITDA for the full fiscal year. However, multiple near-term margin headwinds — including the VIP program, logistics network expansion, and content commerce initiatives competing with TikTok — weighed on profitability and justified sellers taking gains off the table.

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