MercadoLibre $MELI 2Q21 Earnings π
- Rev $1.7b +94% π
- Gross Profit $754m +76% βοΈ margin 44% -439bps βοΈ
- EBIT $166m +67% βοΈ margin 10% -158bps βοΈ
- Net Income $68m +22% margin 4% -236bps βοΈ
- OCF $262m -60% βοΈ
- Com Rev $1.1b +96% π
- Fintech Rev $560m +89% π
- Rev $1.7b +94% π
- Gross Profit $754m +76% βοΈ margin 44% -439bps βοΈ
- EBIT $166m +67% βοΈ margin 10% -158bps βοΈ
- Net Income $68m +22% margin 4% -236bps βοΈ
- OCF $262m -60% βοΈ
- Com Rev $1.1b +96% π
- Fintech Rev $560m +89% π
Strong Business Metrics πͺπ»π
- Users 76m +47% βοΈ
- GMV $7b +39% βοΈ
- Items sold 245m +37% βοΈ
- Items shipped 231m +46% βοΈ
- TPV $17.5b +56% βοΈ
- Mkt TPV $6.7 (~96%) +42% βοΈ
- Off-TPV $10.3b +70% βοΈ
- MGMV $5.1b +218% π
- MPOS +94% π
- MWallet TPV +107% π
- Users 76m +47% βοΈ
- GMV $7b +39% βοΈ
- Items sold 245m +37% βοΈ
- Items shipped 231m +46% βοΈ
- TPV $17.5b +56% βοΈ
- Mkt TPV $6.7 (~96%) +42% βοΈ
- Off-TPV $10.3b +70% βοΈ
- MGMV $5.1b +218% π
- MPOS +94% π
- MWallet TPV +107% π
Rapid Growth in the top 3 Countries that matter for $MELI (~93%)
- π§π· Brazil Rev +104% (~56%)
- π¦π· Argentina Rev +53% (~22%)
- π²π½ Mexico Rev +105% (~15%)
β Brazil + Argentina Duo
~ 77% of Revenues
~91% of Contribution
- π§π· Brazil Rev +104% (~56%)
- π¦π· Argentina Rev +53% (~22%)
- π²π½ Mexico Rev +105% (~15%)
β Brazil + Argentina Duo
~ 77% of Revenues
~91% of Contribution
β‘οΈ ββ¦MercadoLibre delivered another quarter of strong growth in our commerce and fintech businesses in 2Q21, achieving record levels in both volume and revenues.
This strong performance builds on the solid Q1 we had this yearβ¦.β
This strong performance builds on the solid Q1 we had this yearβ¦.β
β‘οΈ βWe believe that our business is showing tremendous momentum despite immense volatility in our key markets due to the frequent closing of physical retail across Latin America.β
Final Thoughts on MercadoLibre $MELI:
β‘οΈ The dominant LATAM E-commerce & increasingly FinTech powerhouse that keeps growing, delivering and compounding. Held since 2017, $MELI remains a strong core high conviction position of growth, profitability, optionality & large mkt oppty.
β‘οΈ The dominant LATAM E-commerce & increasingly FinTech powerhouse that keeps growing, delivering and compounding. Held since 2017, $MELI remains a strong core high conviction position of growth, profitability, optionality & large mkt oppty.
β’ β’ β’
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