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Sunday, December 4, 2022

Marcos Galperín scored record income in his company

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How did each segment of Marcos Galperín’s company fare?

Of the total, its component linked to e-commerce contributed $1.5 billionwith a rise from 33%. But the real leading segment of the company was the fintech that, although it added less in nominal terms –$1.2 billion-, had a 115% increase.

“Mercado Pago had another exceptional quarter, with unique active Fintech users that exceeded the 40 million mark for the first time,” they maintained from Free market in the official presentation.

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From an ostensible reduction in delivery times, Mercado shipments recorded high productivity rates. Mexico and Chile showed the biggest gains in 48-hour deliveries, where they set a record for the number of deliveries in that period.

The weight of Ads and Credits in Mercado Libre

The operating profit margin of the company reached eleven%. That meant a year-over-year gain of 5 percentage points — not counting the one-time tax credits they reported in the third quarter of 2021.

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The main reason for this increase was the higher gross margin of 6.7 percentage pointswhich increased mainly due to the higher contribution of Ads and Credits business (which records revenue, less financing cost as gross profit). In turn, that also led to a higher weight of provisions. for doubtful accounts in the operating expenses of the firm.

Good expectations towards the fourth quarter of 2022

Expectations for the third quarter hovered around $2.69 billion and they were overcome. From Mercado Libre they seek to break a new record. The fourth quarter brings great challenges and opportunities with the return of black fridaythe Qatar World Cup and the Christmas to the retail calendar.

“We have strengthened our leadership position in Commerce, our Fintech business continues to gain momentum, our profitability is solid, we have a solid balance sheet and we still see more opportunities to improve the experience and synergies of our ecosystem”, they raised from the company, where they anticipated that “The best is yet to come”.

Source: Ambito

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