MercadoLibre Inc

Latest Results (20.08.2024):

Revenue Growth

MercadoLibre Inc. reported net revenues and financial income of $5.1 billion for Q2 2024, marking a 42% year-over-year increase. On a foreign exchange-neutral basis, this growth was even more impressive at 113%. This significant rise in revenue underscores the company's robust performance in the Latin American e-commerce and fintech sectors.

Net Income

For the second quarter of 2024, MercadoLibre Inc. achieved a net income of $531 million, representing a 103% year-over-year increase. The net income margin for this period was 10.5%, which is the highest level since Q1 2017. This substantial growth in net income highlights the company's effective cost management and operational efficiency.

Gross Merchandise Volume

MercadoLibre Inc. reported a Gross Merchandise Volume (GMV) of $12.6 billion for Q2 2024, reflecting a 20% year-over-year increase. On a foreign exchange-neutral basis, the GMV growth was 83%. This growth was particularly strong in Brazil and Mexico, driven by initiatives to incentivize consumption and enhance the user experience.

Total Payment Volume

The Total Payment Volume (TPV) for MercadoLibre Inc. in Q2 2024 reached $46.3 billion, up 36% year-over-year. On a foreign exchange-neutral basis, the TPV growth was 86%. This increase was driven by higher engagement levels in key markets such as Argentina, Brazil, and Mexico, and the expansion of the company's fintech services.

Fintech Services

MercadoLibre Inc.'s fintech arm, Mercado Pago, saw its Monthly Active Users (MAU) rise by 37% year-over-year to 52 million in Q2 2024. The company also announced plans to apply for a banking license in Mexico, aiming to become the number one digital bank in the country. This strategic move is expected to further enhance Mercado Pago's market position and growth prospects.