Mercado Libre presented a balance better than expected and its shares soar on Wall Street

At the same time, total volume of payments processed during the quarter was $24.2 billion, up 72.8% year-on-year in constant currency. Fourth quarter net income was $2.1 billion, up 60.5% year-over-year in dollars and 73.9% in constant currency.

Mercado Libre also announced that the operating profit was US$23.3 million, compared to the operating loss of US$25 million during the same period of the previous year. As a percentage of income it represented 1.1%.

For its part, revenues from the e-commerce business increased by 55.6% year-on-year in dollars, reaching US$1,357.8 millionwhile revenues from the fintech business increased by 70.1% year-on-year in dollars, reaching US$773.0 million.

Regarding the gross profit, The total for the quarter was US$853.2 million, with a margin of 40%, compared to 36.8% in the same quarter of the previous year. The quarter closed with a net loss before taxes of US$33.9 million compared to the loss of US$44.0 million during the same period of 2020.

The net loss for the quarter totaled US$46.1 million, resulting in a net loss of US$0.92 per share. As soon as the basis of users unique assets reached 82.2 million. 287.9 ​​million items were sold, which implies a year-on-year growth of 25.5%. Almost 300 million posts were recorded on our platform.

Mercado Pago had a total volume of payments outside the platform that reached US$16.1 billions, with a year-on-year growth of 75.1% in dollars and 96.5% in constant currency, through 849.9 million payments in the quarter, which represents a 69.4% year-on-year growth.

Unique fintech users reached 34.5 million. Some 22.3 million users in the region already have their balances invested in Mercado Fondo, for a total of over US$1 billion. Mercado Crédito’s portfolio almost reached US$1.7 billion, exceeding three times the value recorded in the fourth quarter of 2020.