MercadoLibre (MELI) reported second-quarter 2024 earnings of $10.48 per share, which beat the Zacks Consensus Estimate by 20.2%. The company reported earnings of $5.16 per share in the year-ago quarter.Revenues surged 42% on a year-over-year basis (113% on a FX-neutral basis) to $5.07 billion. The top line surpassed the Zacks Consensus Estimate by 6.5%.Total revenues were driven by accelerating commerce and fintech revenues, which grew 53.4% and 27.5% year over year to $2.97 billion and $2.1 billion, respec ...

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 ...