For its part, the trading business contributed $1.5 billion to total income, with a growth of 33%, while the Fintech segment added US$1.2 billion thanks to a increase of 115%.
Mercado Envios continued to be one of its pillars. In this period the deliveries they made were faster than the previous year, with Mexico and Chile showing the biggest gains in 48-hour deliveries. They achieved the highest level of on-time deliveries since the inception of the managed network while mitigating external cost pressures.
“Mercado Pago had another exceptional quarter, with unique active Fintech users surpassing the 40 million mark per the first time,” they argued from Free market in the official presentation.
It is worth noting that within its profitability ratios, the operating profit margin reached 11.0%, a year-on-year gain of 5 percentage points (excluding one-time tax credits reported in the third quarter of 2021). This was the result of a higher gross margin of 6.7 percentage points, which increased primarily due to the higher contribution from Ads and our Loans business (which records revenues, less financing cost as gross profit), which also led to a higher weight of provisions. for doubtful accounts in our operating expenses.
As for the future, MercadoLibre alluded that his attention is now focused on a good performance in the fourth quarterwhich brings great challenges and opportunities with the return Black Friday, the FIFA World Cup and Christmas to the retail calendar.
“We have strengthened our leadership position in Trade, our Fintech business continues to gain momentum, our profitability is strong, we have a strong balance sheet, and we still see further opportunities to enhance our ecosystem experience and synergies. In our mission to democratize the trade and financial services markets of Latin America, the best is yet to come,” they concluded from the company.
Source: Ambito
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