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Jun 30, 2023
MercadoLibre Q2 2023 Earnings Report
MercadoLibre experienced a record quarter driven by strong performance in Commerce and Fintech, with significant profit growth in Brazil and Mexico.
Key Takeaways
MercadoLibre reported a strong Q2 2023 with net revenues of $3.4 billion, up 57.2% year-over-year on an FX neutral basis. Income from operations more than doubled to $558 million, representing a 16.3% margin. The company saw significant growth in both its Commerce and Fintech operations, with notable contributions from Brazil and Mexico.
Net revenues reached $3.4 billion, a 57.2% increase year-over-year on an FX neutral basis.
Income from operations more than doubled to $558 million, with a 16.3% margin.
Total Payment Volume (TPV) grew by 96.6% year-over-year on an FX neutral basis, reaching $42.1 billion.
Gross Merchandise Volume (GMV) increased by 47.2% year-over-year on an FX neutral basis, totaling $10.5 billion.
Revenue by Geographic Location
Forward Guidance
MercadoLibre intends to reinvest short term margin gains to strengthen its long-term competitive position, focusing on growth opportunities across geographies and business lines.
Positive Outlook
- Top line growth and profit expansion are broad-based across geographies and business lines.
- Tremendous leverage in financial model as the business scales.
- Commitment to allocating capital with a long term view.
- Goal is to deliver consistent margin improvements.
- Disciplined approach to re-investing short term margin gains.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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