Sales of the e-commerce business increased 48.1%, helped by an increase in direct product sales.
He South American e-commerce giant Market Freedomiciled in Argentina, reported on Thursday that its profits remained stable in the fourth quartersince despite registering higher sales it was not reflected in the profits for tax hits.
In this context, the actions of Free market in it aftermarket fall 142.97 units, or 7.9%, to 1,675.01 Dollars.
Tax blow to Mercado Libre
Free marketwith a presence in 18 countries, recorded a net profit of US$165 million in the period, unchanged compared to the result of the last quarter of 2022, due to the impact of two extraordinary tax provisions in Brazil for a total of US$351 million.
However, The company assured that these provisions should not have a material impact on cash in the future.
The total income of Free market grew 42% year-on-year to $4.26 billion, thanks to solid performance in its Mexico and Brazil markets.
The E-commerce business sales increased by 48.1%helped by an increase in direct product sales.
In Payment Marketthe company’s financial services arm, revenue rose 34%driven by an acceleration in credits.
Source: Ambito
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