Leading Latin American e-commerce giant MercadoLibre has announced a profit for its fourth quarter, which has increased compared to the same period last year.
The company, which is often called the eBay of Latin America, said its bottom line advanced to $51.35 million, or $1.16 per share. This was higher than $38.96 million, or $0.88 per share, in last year’s fourth quarter.
MercadoLibre operates across 19 countries in Latin America with items ranging from automotive to real estate; with a range of apartments, homes and office spaces listed.
Pedro Arnt, Chief Financial Officer of MercadoLibre said:
“Last year was one of our most significant in terms of the tangible results of the quality work and level of execution that the entire team at MELI delivered. The scope of control over the customer experience that we are now able to deliver is something that would have been hard for us to anticipate five years ago,” he said. “This end to end servicing of each e-commerce transaction that we now offer puts us in an excellent position to focus on delivering a best in class user experience to our buyers and sellers, which is the driving principle behind everything we do.”
Full Year 2016 Operational & Financial Highlights
- MercadoLibre sold 181.2 million items during 2016, a year-over-year increase of 41.0%, resulting in Gross Merchandise Volume of $8.0 billion.
- MercadoPago ended 2016 with 138.7 million Total Payment Transactions for the year, an increase of 72.6% compared to 2015, resulting in a full-year Total Payment Volume of $7.8 billion.
- MercadoEnvíos shipped 86.5 million items in 2016, a 91.4% increase as compared to 2015.
- Consolidated Net Revenues for 2016 were $844.4 million, a 29.6% increase in USD year-over-year.
- Full-year net income was $136.4 million, or $3.09 per share.