Mercado Libre Posts Record Revenue of $10 Billion in 2022

The e-Commerce and online classifieds giant Mercado Libre has posted its results for the year ended 31st of December 2022. Highlights of the company's impressive results include:

• Net revenue of $10 billion for the year and $3 billion for Q4 (a 31% quarterly increase).
• Net income of $482 million for the year, up from $83 million in 2021.
• The company's FinTech play, Mercado Pago grew by around 100% in each quarter of 2022.

Mercado Libre operates e-Commerce and online classifieds sites across Latin America and is often referred to as the Amazon.com of the region. As well as horizontal classifieds sites it also operates real estate verticals in Chile (PortalInmobiliaro) and Venezuela (TuInmueble) and is an important player and competitor in many markets in the region.

The company is something of a FinTech leader in Latin America and its proprietary payment platform Mercado Pago has grown exponentially over the last few years. Mercado Libre has also, started facilitating cryptocurrency real estate payments and provided a platform for real estate crowdfunding.