E-commerce giant Mercado Libre reported on Wednesday that its second-quarter profit rose 79.8% year-on-year to $123 million.According to a statement from the company accessed by Infobae, In this framework, the company’s quarterly earnings exceeded the Refinitiv Agency analyst forecasts of $98.9 million.
Thus, the shares of the company he founded galperin brand 23 years ago – yesterday they celebrated it on social networks – it jumped to 14% after market financial world.
Net income from Mercado Libre (MELI), with a presence in 18 countries, including Brazil, Mexico and Colombia, They were up 52.5% over the period to about $2.6 billion, although they grew 56.5% in constant currency.
For its part, the group’s financial unit, Mercado Pago saw its profits grow 112.5% in dollars to $1,200 million, by expanding its business lines such as insurance and investment tools.
Similarly, Mercado Pago registered an 83.9% increase in the total volume of stablecoin payments to $30.2 billion. While its credit portfolio reached $2,700 million in the quarter, a growth of 12.5% compared to the same period of the previous year.
“Buyers have maintained their level of activity in signing the platform, which has translated into an increase in the number of items per buyer compared to the previous quarter,” Mercado Libre explained.
During the second quarter, the firm crossed 38 million active users, a growth of 26.3%, with growth in all markets in the region, mainly in payment services through QR codes, transfers within the ecosystem and those users. who applied for the loan.
,We saw a strong quarter across all businesses, reflecting continued improvement in profitability with record results in net income and gross profit. As a result of this continued performance, we remain steadfast in our goal of increasing access to business and financial services.“, Warranty peter aartusFinancial Director of Mercado Libre.
And he added: “The operation of the market achieved solid results with growth in sales and buyer base. Mercado Pago, for its part, has strong growth with a growing user base and higher volume of payments through digital accounts and acquisitions”. Maintains growth rate. Our strategy continues to prioritize the balance between profitable growth and cash management, supporting investments in technology for product development, always focused on long-term differentiation.
Regarding electronic commerce, the company founded by Galperin highlighted that the total value of the goods traded in the market in the second quarter was US$8.6 billion, 21.8% more in dollars and 26.2% in constant currency.
In total, 275.2 million items were sold (6.7 items per buyer), which represents an increase of 12.3%. The total volume of posts registered on the platform was 300.5 million. Argentina and Mexico achieved an average increase of 30% year-on-year in the dollar, with Brazil registering items per buyer above average.
Meanwhile, 264.1 million items were shipped to the region through Mercado Envios during the quarter, an increase of 26.9% year-on-year. The progress in execution and speed was significant for Mercado Envios, reaching 98.6% of the entire operation, compared to 97.3% registered in the same quarter of 2021. This total -reported company- equals Mercado Libre with more than 91.1% of managed networks.
Similarly, in normal quantities of merchandise, around 80% were delivered within 48 hours and around 55% were delivered the same day or one day after purchase.
The market operations yielded tangible results, with an increase in sales and the buyer base. Mercado Pago, for its part, maintains a strong growth rate with a growing user base and higher volume of payments through digital accounts and acquisitions (Arnt).
In another order, the company explained that the Marketplace operation maintains its growth and relevant market share in Latin America, Efficient logistics, a diverse supplier base, and a broad offering, along with investments in technology, enhance the user experience, “It is worth highlighting the expansion of the network of Mercado Libre agencies -points of shipment, storage and dispatch of goods, which make up the logistics network- and of the air fleet, which will reduce delivery times in the northern regions, the Northeast and . center-west of Brazil. Currently, the delivery time in the main capitals of this country is one to two days”, he remarked.
In addition, Mercado Libre pointed out that the loyalty program continues to grow year after year, reaching millions of customers and playing a fundamental role in the integration and participation of Mercado Libre and Mercado Pago users. At Level 6, the highest in the program, users have higher frequency, sales volume and retention, and enjoy a range of benefits such as free shipping, discounts and entertainment services.
“Some of the most important aspects reported by the leading e-commerce company in Latin America and that partly explain the positive readings from investors are, Unique active users of the Fintech segment increase by 26%, reached a total of 38.2 million at the end of June. It should be noted that this situation occurs in a global scenario of economic slowdown, and where many of the most important technology companies have registered a drop in terms of active users and average revenue per user, ”he assured. Maximilian Donzelli, Head of Research at IOL invested online.
“other, We cannot fail to mention the rapid pace of development generated by the Payment Market Divisionwhich reached a payment volume of more than $30,000 million (record for the company), which represented an increase of about 84% compared to the same quarter of the previous year”, said the analyst.
For its part, IOL Investonline highlighted that Argentina continues to be the second most important market for the company, contributing about 23% of total revenues, thus surpassing Mexico, which contributes 16% of revenues. gives. In addition, Argentina showed an increase of around 112% in 2021 compared to the same period, which translates into the country that shows the fastest growth.
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