Sea Limited's Gaming Growth Accelerates: Can Garena Push It Higher?

Key Takeaways Garena bookings jumped 51.4% to $775.4M, driven by Free Fire and a key NARUTO SHIPPUDEN collaboration. User base hit 661.8M with higher monetization; EBITDA margin reached 59% on operational efficiency. SE expects double-digit growth ahead, led by the Delta Force Mobile launch and Free City pre-registration.Sea Limited’s (SE) digital entertainment division, Garena, delivered an impressive first quarter of 2025, driven by the success of its flagship game, Free Fire, which is expected to susta ...