Ecommerce platform Mercado Libre Q2 revenue up 34% YoY
Overview
Mercado Libre Q2 revenue rises 34% YoY to $6.8 bln, beating analyst expectations
Income from operations reached $825 mln, a record high, growing 14% YoY
Commerce and fintech segments drive growth; credit portfolio expands 91% YoY
Result Drivers
COMMERCE GROWTH - Items sold rose 31% YoY, driven by growth in Mexico and lower free shipping threshold in Brazil
FINTECH EXPANSION - User base grew 30% YoY, with a 91% YoY increase in the credit portfolio, highlighting credit card growth
ADVERTISING REVENUE - Grew 38% YoY, bolstered by integration with Google Ad Manager
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $6.8 billion | $6.68 bln (13 Analysts) |
Q2 Net Income | $523 mln | ||
Q2 GMV | $15.30 bln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 23 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy"
Wall Street's median 12-month price target for MercadoLibre Inc is $2,887.50, about 17.7% above its August 1 closing price of $2,375.92
The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 50 three months ago
Press Release:
