Latin America’s leading e-commerce horizontal, MercadoLibre, Inc., has released its first quarter ended March 31, 2021 financial results via conference call earlier today. The company announced that it saw great improvements compared to this same period last year, showing a bounce back from early pandemic times including active users jumping 61.6% year-over-year, and successful items sold increasing an impressive 110.2% year-over-year.
For the first quarter of 2021, MercadoLibre reported its net revenue has hit $1.4 billion, an increase of 111.4% year-over-year. Its Commerce revenues increased as well- an impressive 139.2% year-over-year, hitting %910.6 million. Gross profit was $591.4 million with a 42.9% margin, compared to 48.0% year-over-year.wpDataTable with provided ID not found!
Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., said:
“Our financial results were once again marked by accelerated growth due to strong demand for e-commerce and FinTech services within an improving but still challenging environment. Online consumption remained strong and we experienced favorable consumer trends. Online consumption throughout remained strong and we experienced favorable consumer trends as digital services share of wallet continue to grow. Our solid quarterly performance illustrates our commitment to executing our long-term strategic priorities as we remain focused on our purpose of democratizing access to commerce and money in Latin America, recognizing the important economic role we play in the countries where we operate.”
As the months tick on, we're seeing an increasing number of companies pleased with their financial results. MercadoLibre is one such company, with its increases hitting percentages over 100.