The net income of the business e-commerce increased a 23% year-on-year in dollarsyes, reaching $1.4 billion, driven by the strength of its marketplace, the expansion of its digital advertising business and the 41 million unique buyers in the quarter. Buyers are maintaining their activity levels on the platform strong, generating growth in the number of items per buyer compared to the previous quarter.
On the other hand, the net income of fintech grew by 112.5% year-on-year in dollars, reaching $1.2 billion – surpassing for the first time the mark of the $1 billion – with the increasing relevance of financial services in the ecosystem. During the second trimester, Mercado Pago exceeded 38 million active usersan increase of 26.3%with growth in all the markets of the region, mainly in payment services via QR code, transfers within the ecosystem and users who requested credit.
“We saw a strong quarter across all businesses, reflecting continued improvement in profitability with record results in net income and gross profit. As a consequence of this consistent performance, we remain firm in our purpose of expanding access to trade and financial services”, assures Pedro Arnt, Chief Financial Officer of Mercado Libre.
With respect to the total value of the items transacted in the marketplace, it was $8.6 billion the second trimester, an increase of 21.8% in dollars.
What analysts highlight and expect
Maximiliano Donzelli, Head of research at Inversión online, stated that it is worth noting that the iCompany growth of 26% in the fintech segment in terms of unique active users, it occurs in a global scenario of economic slowdown, and where several of the most important technology companies have reported falls in terms of active users and average revenue per user, for which it is worth taking into account how well MELI has accommodated to this situation.
In addition, the economist indicated that one cannot fail to mention the rapid pace of growth maintained by the Mercado Pago division, which reached a volume of payments that exceeded 30,000 million dollars (record for the company), thus reflecting an increase of approximately 84% compared to the same quarter of the previous year.
Source: Ambito
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