Latin America’s leading e-commerce technology company, MercadoLibre has reported strong financial results for the first quarter, ended March 31, 2017, reports Seeking Alpha.
MercadoLibre operates across 19 countries in Latin America with items ranging from automotive to real estate; and offers a range of apartments, homes and office spaces on its site.
Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc. said the company’s first quarter results were a promising way to begin the 2017 financial year.
“We’ve kicked off the year with a strong first quarter, sustaining the momentum from 2016, which was one of the best years in history for us,” Arnt said. “The consistent pace of execution this quarter is a direct reflection of our relentless drive to deliver disruptive technology solutions to our users across platforms, devices, and countries where we operate.
“We remain focused on transforming commerce and financial services through product innovation, fostering entrepreneurship and delivering best in class user experiences, and thus cementing our leadership position in technology, online payments, and ecommerce throughout Latin America.”
53.2 million Sold Items, up 38.6%, 44.1 million Total Payment Transactions, up 60.1%
Net Revenues of $273.9 million, growing 73.8% in USD, 78.9% on an FX neutral basis
Net Income of $48.5 million, resulting in EPS of $1.10