MercadoLibre (NASDAQ:MELI) posted fourth-quarter earnings of $3.25 per share on revenue of $3 billion. Analysts surveyed by FactSet were anticipating earnings of $2.42 per share and revenue of $2.96 billion.
Q4 GAAP EPS of $3.25 beats by $0.93. Revenue of $3 billion (+40.8% Y/Y) beats by $40 million .
$36.0 billion Total Payment Volume, up 80.0% year-over-year on an FX neutral basis $9.6 billion. Gross Merchandise Volume, up 34.7% year-over-year on an FX neutral basis.
“Over the last three years, we have built a GMV base that is 2.5x larger than in 2019 and continues to grow, we have ramped-up a logistics network with world-class delivery speeds (GMV delivered within 48 hours rose from an average of 44% in 2019 to almost 80% in 2022) and we have strengthened the other key pillars of our Commerce value proposition: assortment, price and service,” a shareholder letter explained.
MercadoLibre hosts the largest online commerce and payments ecosystem in Latin America, focusing on enabling e-commerce and digital and mobile financial service on behalf of its customers by delivering a suite of technology solutions across the complete value chain of commerce. The company is present in 18 countries including: Argentina, Brazil, Mexico, Colombia, Chile and Peru.
“Based on unique visitors and page views, “according to this morning’s news release, “we are market leaders in each of the major countries where we are present.”
MELI opened Friday trading down 9.5 cents to $1,136.16.