MercadoLibre, the Latin American general classifieds company, has reported financial results for the third quarter ended September 30, 2014. The highlights were revenue of USD 147.9 million, growing 20.2% year-over-year in USD, 89.0% in local currencies, income from Operations of USD 47.1 million, a year-over-year growth of 26.1% in USD and 145.2% in local currencies, and profit of USD 33.8 million resulting in a $0.76 EPS.
The impact on the share market was immediately felt with shares jumping nearly 20% on the announcement.
Marcos Galperin, President and Chief Executive Officer of MercadoLibre, Inc., commented, "Our strategic initiatives are driving value for all involved, judging by the success we are having at penetrating and promoting our e-commerce solutions across Latin America. The greater cross-usage of services provided by our ecosystem is enhancing the experience we bring to our users, and the benefits to our business are clearly reflected in our results for the third quarter of 2014."
Founded in 1999, MercadoLibre is Latin America's leading e-commerce technology company. Through its primary platforms, MercadoLibre.com and MercadoPago.com, it provides solutions to individuals and companies buying, selling, advertising, and paying for goods and services online.
MercadoLibre.com serves millions of users and creates a market for a wide variety of goods and services in an easy, safe and efficient way. The site is among the top 50 in the world in terms of page views and is the leading retail platform in unique visitors in the major countries in which it operates according to metrics provided by comScore Networks. The Company is listed on NASDAQ (Nasdaq:MELI) following its initial public offering in 2007.
Q3'14 Operational Highlights