A strong earnings report helped the e-commerce company buck the broader sell-off.Shares of MercadoLibre (MELI 10.59%), the Latin America e-commerce giant, were climbing today even as the broad stock market collapsed following a weak unemployment report.MercadoLibre was shining after delivering a strong earnings report last night, posting another round of breakout growth. The stock was up 10% as of 12:01 p.m. ET on Friday. MercadoLibre keeps growing and growingThe company reported revenue growth of 42% (or 1 ...

MercadoLibre stock is soaring after earnings beat expectations.In this video, I will be talking about MercadoLibre's (MELI 9.56%) recent earnings report and why it might be the best e-commerce stock to own right now. Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Aug. 1, 2024. The video was published on Aug. 1, 2024. ...

Financial Data and Key Metrics Changes - MercadoLibre reported revenues of $5.1 billion, growing above 40% year-on-year [10] - Income from operations reached $726 million, with net income of $531 million, resulting in a net income margin of 10.5%, the highest in the last eight years [10][24] - Net income grew by 100% year-on-year, reflecting strong performance despite challenges in Argentina [23] Business Line Data and Key Metrics Changes - In Commerce, sold items and unique buyers saw the highest growth since 2021, with GMV in Brazil growing by 36% [7][10] - Fintech Services surpassed 50 million monthly active users for the first time, with significant growth in asset under management and credit card issuance [9][10] - The credit card portfolio grew significantly, with 1.6 million new cards issued during the quarter [9][24] Market Data and Key Metrics Changes - Brazil's GMV growth of 36% marked the highest level since 2021, while Mexico maintained momentum with successful promotional events [7][10] - Argentina showed a positive growth in items sold, reversing the negative trend from Q1 [8][10] Company Strategy and Development Direction - The company aims to democratize commerce and financial services in Latin America, focusing on innovation and technology to enhance user experience [5][6] - Recent innovations include the launch of a fulfillment center in Texas and the introduction of robotics in distribution centers to improve logistics efficiency [11][12][15] - The strategy emphasizes synergies between commerce and fintech, leveraging credit solutions to drive growth in both areas [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth opportunities, highlighting the importance of innovation and operational efficiency [6][10] - The company remains focused on expanding its logistics network and enhancing its fintech offerings, despite macroeconomic challenges [87][90] Other Important Information - The company launched SLOW shipments and MELI Delivery Day to optimize logistics and improve customer experience [13][14] - The implementation of AI across various business units aims to enhance efficiency and customer engagement [49][52] Q&A Session Summary Question: Interplay between commerce and fintech - Management noted that credit solutions are fueling growth in commerce, with strong performance in Brazil and Mexico [18][19] Question: Operating leverage and potential headwinds - Management acknowledged strong EBIT results but highlighted bad debt provisioning as a factor affecting margins [23][24] Question: Impact of Meli Más and MDD on GMV - Meli Más is generating higher engagement and GMV, while MDD adoption is trending upwards [28][30] Question: Cross-border ambitions and distribution center role - Cross-border remains a significant opportunity, with the Texas center complementing offerings in Mexico [42][43] Question: Credit quality and NIMAL trends - NIMAL deterioration is attributed to the growth of the credit card portfolio, but overall credit quality remains strong [70][72] Question: Market share and growth in Brazil - Management expressed pride in gaining market share in Brazil, with sustained growth rates exceeding market averages [78][83] Question: Macro environment impact on fintech - The company remains focused on growth despite macroeconomic fluctuations, emphasizing the secular trend towards digitalization [87][90]

MercadoLibre (MELI) came out with quarterly earnings of $10.48 per share, beating the Zacks Consensus Estimate of $8.72 per share. This compares to earnings of $5.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.18%. A quarter ago, it was expected that this operator of an online marketplace and payments system in Latin America would post earnings of $6.64 per share when it actually produced earnings of $6.78, delivering a ...

Online Latin America commerce and payments company Mercado Libre MELI reported second-quarter financial results after market close Thursday.Here are the highlights.What Happened: Mercado Libre reported net revenue of $5.07 billion in the second quarter, up 42% year-over-year. The revenue beat a Street consensus estimate of $4.68 billion, according to data from Benzinga Pro.The company reported a 36% year-over-year increase in total payment volume for the second quarter and a 20% year-over-year rise in gross ...

Motevideo, Aug. 01, 2024 (GLOBE NEWSWIRE) -- MONTEVIDEO, Uruguay; August 1, 2024; (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq: MELI) (http://www.mercadolibre.com) today reported financial results for the quarter ended June 30, 2024, in a Letter to Shareholders, which is now posted to the company’s Investor Relations website https://investor.mercadolibre.com. The Company will host its earnings video conference, as well as a conference call and audio webcast for any questions that investors may have, on Au ...

Q2'24 Results MercadoLibre, Inc. Second Quarter 2024 Letter to Shareholders > August 1", 2024 Q2'24 Results MONTEVIDEO, Uruguay; August 1st, 2024 -- MercadoLibre, Inc. (Nasdaq: MELI) (http://www.mercadolibre.com), Latin America's leading e-commerce and fintech company, today reported financial results for the quarter ended June 30, 2024 Net revenues & financial income of $5.1 billion, up 42% YoY and 113% FX-neutral Income from operations of $726 million, with a 14.3% margin Net income of $531 million, with ...

MercadoLibre (MELI) is scheduled to release its second-quarter 2024 results on Aug 1. For the second quarter, the Zacks Consensus Estimate for revenues is pegged at $4.76 billion, suggesting a rise of 39.5% from the prior-year quarter’s reported figure.The Zacks Consensus Estimate for second-quarter earnings is pegged at $8.94 per share, suggesting a jump of 73.3% from the year-ago reported figure. The estimate has been unchanged over the past 30 days. Image Source: Zacks Investment Research MercadoLibre ha ...

The Latin American commerce giant has lagged the market, but could now be time to buy?Latin America-based commerce giant MercadoLibre (MELI 1.63%) has taken investors on a bit of a rollercoaster ride so far in 2024 but is up by less than 5% from where it started the year. While this is certainly better than being in the red for the year, it is about 10 percentage points less than the S&P 500's year-to-date return.Despite the underperformance, MercadoLibre's business has actually performed quite well recentl ...

Montevideo, July 25, 2024 (GLOBE NEWSWIRE) -- MONTEVIDEO, Uruguay; July 25, 2024; (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (NASDAQ:MELI) (http://www.mercadolibre.com) announces that it intends to release financial results for its second fiscal quarter ending June 30, 2024, on August 1, 2024. The Company will host its earnings results video conference, as well as a conference call and audio webcast, on August 1, at 5:00 p.m. Eastern Time. In order to access our video webcast and the live audio, investors, ana ...