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Top related persons:
Stelleo Tolda - 1 Nacho - 1 LSEG - 1 Andre Chaves - 1 Chaves - 1 Mercado - 1 Andre Romani - 1 Peter Frontini - 1
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Sao Paulo Brazil Mexico Argentina
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REUTERS - 1 SAO PAULO - 1 Analysts - 1 Mercado Pago - 1 Thomson - 1

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2 mentions found


☆ MercadoLibre's third-quarter profit soars past expectations
  + stars: | 2023-11-01 | by ( ) www.reuters.com   time to read: +2 min
Stelleo Tolda, Chief Operating Officer (COO) of MercadoLibre (Online marketplace company) poses at the entrance of the company's headquarters in Sao Paulo, Brazil, July 10, 2017. The company posted a profit of $359.0 million for the July-September period, while analysts polled by LSEG expected $298.1 million. Total net revenue was around $3.8 billion in the quarter ended in September, up 39.8% year-on-year. Within the e-commerce operation, net revenue rose to $2.1 billion, up 45.2%. In its financial services arm, Mercado Pago, net revenue grew 33.2% to $1.6 billion, as the company increased the pace of lending, while its total volume of payments processed also jumped.
Persons: Stelleo Tolda, Nacho, LSEG, Andre Chaves, Chaves, Mercado, Andre Romani, Peter Frontini, Kylie Madry Organizations: REUTERS, SAO PAULO, Analysts, Mercado Pago, Thomson Locations: Sao Paulo, Brazil, Mexico, Argentina
☆ Latam's MercadoLibre's net profit rises 36%, fueled by fintech
  + stars: | 2022-11-03 | by ( ) www.reuters.com   time to read: +2 min
SAO PAULO, Nov 3 (Reuters) - South American e-commerce giant MercadoLibre Inc (MELI.O) on Thursday reported a third-quarter net income up 36% from a year earlier, as it nearly doubled its fintech revenues, helping offset a relative slowdown in online shopping. The Argentina-based company, which operates in countries across Latin America, posted a quarterly net income of $129 million. The company's loan portfolio meanwhile reached $2.8 billion in the quarter, up 4% from the previous quarter, as it expanded its credit business. Over the quarter MercadoLibre said it added 4 million new users, bringing its active use base up 12% to 88 million. This helped net revenues leap 61% in constant currency (45% in dollars) to reach $2.7 billion - in line with Refinitiv estimates.
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