$MELI (-0,23 %) - Mercadolibre Earnings Highlights:
- Earnings per share: USD 10.48 (estimated USD 8.72); increase of +101 % compared to the previous year
- Sales: USD 5.1 billion (estimated USD 4.7 billion); increase of 42 % compared to the previous year
- Net income: USD 531 million; increase of 103% compared to the previous year
Segment performance:
- GMV: USD 12.6 billion; increase of 20% compared to the previous year (83% currency-neutral)
- Trading revenue: USD 3.39 billion; increase of 53% compared to the previous year
- Fintech revenue: USD 1.70 billion; increase of 28% compared to the previous year
- TPV: USD 46.3 billion; increase of 36% compared to the previous year (86% currency-neutral)
- TPV on acquisition: USD 33.7 billion; increase of 24% compared to the previous year (75% currency-neutral)
- Fintech services: Increase of 92% compared to the previous year
Geographical breakdown:
- Brazil: sales increase of +51% compared to the previous year
- Mexico: Sales increase of +66 % compared to the previous year
- Argentina: Sales increase of +285 % adjusted for currency effects (unchanged in USD)
Key operating figures:
- EBIT: USD 726 million; increase of 114% compared to the previous year
- EBIT margin: 14.3 % (previously: 16.3 %)
- Unique active buyers: 57 million; increase of +19% compared to the previous year
- Items sold: 421 million; increase of 29% compared to the previous year
- Loan portfolio: USD 4.9 billion; increase of 51% compared to the previous year
Key figures:
- Fintech MAU: 52 million; increase of 37% compared to the previous year
- Total payment volume: USD 46.3 billion; increase of 36% compared to the previous year (86% currency-neutral)
- Items shipped: 416 million; increase of 29% compared to the previous year
- TPV growth for credit cards: +208% year-on-year
Comment from CEO Marcos Galperin:
- "Mercado Libre grew strongly in the second quarter of 2024. Revenue amounted to USD 5.1 billion, an increase of 42% year-on-year, and net profit increased by 103% year-on-year to USD 531 million. This was primarily due to rapid growth in Brazil and Mexico, with an improving trend in Argentina."
Operational highlights:
- Accelerated growth in GMV, TPV acquisition and loan portfolio in key regions.
- Order fulfillment penetration and free shipping rates improved significantly year-on-year.
- MAU in Fintech exceeded the 50 million mark for the first time.
- Strong ecosystem momentum through investments in products, technology and service levels.
