Mercado Libre’s (NASDAQ: MELI) growth accelerates
Mercado Libre delivered another pleasing quarter with net revenue up 97% year on year, an acceleration from the previous quarter’s 85% growth.
The Latin American company closed the year with almost US$4 billion in revenue, up 73% year on year.
Revenue from its eCommerce segment rose 90% year on year to US$2.56 billion. Fintech revenue was up 48.8% year on year to US$1.4 billion. In terms of geography, Brazil (55.2%), Argentina (24.7%) and Mexico (14.5%) continue to be the most significant revenue contributors.
The operational statistics were impressive across the board.
Source: Mercado Libre’s earnings announcement
In particular, during the fourth quarter, the number of off-platform transactions reached US$9.2 billion in gross merchandise volume (GMV) and represented 75% of all MercadoPago transactions.
Other key developments worth noting are:
- MercadoPage’s mobile point of sale (mPOS) has been distributed to over six million active merchants over the last twelve months.
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