Highlights from MercadoLibre's Q2 Report

There are companies out there beating all of the odds when the forecast for the rest of the year was a little more than abysmal due to the financial crisis surrounding the COVID pandemic. MercadoLibre, Inc. is one of them. 

The company has released its Q2 report and the numbers are impressive. Net revenue is up by 123.4% (YoY on an FX neutral basis), Total Payment Volume is up 142.1% (YoY on an FX neutral basis), and Gross Merchandise Volume is up 101.5% (YoY on an FX neutral basis). 

BUSINESS HIGHLIGHTS

• Active users up 45.2% (51.5 million)
• Live listings offered on MercadoLibre’s marketplace reached 289.0 million, a 26.2% year-over-year

FINANCIAL HIGHLIGHTS

• Gross profit was $427.2 million with a margin of 48.6%, compared to 50.0% in the second
• quarter of 2019
• Total operating expenses were $327.7 million, up 15.0% year-over-year. 
• Operations income was $99.4 million, reaching 11.3%
• Income interest was $18.8 million, a 44.2% decreased year-over-year
• Net income before taxes was $89.3 million, up from a loss of $16.7 million the previous quarter
• Net income was $55.9 million and net earnings per share is $1.11

Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., said:

“The pandemic generated significant changes in consumer behavior, which translated into a new milestone in the penetration of e-commerce and online payments in the region. We continue to focus on the wellbeing of our teams, and we are proud to report that we’ve been able to provide an uninterrupted operation of our commerce and fintech solutions throughout the second quarter, helping millions of merchants and buyers to safely transact.”