Mercado Libre, Inc., a leading classifieds giant in LATAM, has released its fourth-quarter financial results ending December 31, 2020. While many companies reported shaky figures for the end of 2020, LATAM classifieds leader, Mercado Libre, saw increases across the board.
Business highlights from the report include:
- Unique active users up by 71.3%, year-over-year
- GMV up to $6.6 billion, a 69.6% increase
- 109.5% year-over-year increase in items sold
- Live listings on its marketplace hit 275.4 million
Financial high lights from the report include:
- Fourth-quarter net revenues up $1.3 billion year-over-year, an increase of 96.9%
- Commerce revenues increased 124.2% year-over-year
- Gross profit was $489.0 million with a margin of 36.8%, compared to 45.7% year-over-year
- Net loss was $50.6 million, resulting in net loss per share of $1.02
Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., commented:
“Our strong performance during the quarter further established our leadership position in Latin America, which is the world’s fastest-growing region for e-commerce, according to e-Marketer. These positive market dynamics, combined with our strong execution and focus, are reflected in our quarterly performance, where growth continued accelerating despite the gradual reopening of physical retail during the period.”
