- Mercadolibre Inc MELI reported second-quarter net revenue increase of 52.5% year-over-year to $2.6 billion, +56.5% on FX neutral basis, beating the consensus of $2.5 billion.
- EPS was $2.43, beating the consensus of $1.96.
- The gross margin expanded by 517 bps to 49.4%. The operating income improved by 50.6% to $250 million, and the margin was 9.6%, down by 12 bps.
- Total Payment Volume increased 83.9% Y/Y to $30.2 billion on an FX-neutral basis.
- Gross Merchandise Volume increased 26.2% Y/Y to $8.6 billion on an FX-neutral basis.
- Unique active users increased to 84 million, compared to 76 million a year ago.
- Mercadolibre's net cash provided by operating activities year-to-date totaled $674 million, compared to cash used of $1 million a year ago.
- The company held cash, cash equivalents, restricted cash, and cash equivalents of $2.25 billion as of June 30, 2022.
- Price Action: MELI shares are trading higher by 13.72% at $1,014.11 during the post-market session on Wednesday.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.