Press release
MercadoLibre, Inc. Reports Fourth Quarter 2019 Financial Results
Net Revenues of $674.3 million, up 84.4% YoY on an FX neutral basis $8.7 billion Total Payment Volume, up 98.5% YoY on an FX neutral basis $3.9 billion Gross
About this update from Mercadolibre, Inc.
[{"type":"text","content":"Net Revenues of $674.3 million, up 84.4% YoY on an FX neutral basis \n $8.7 billion Total Payment Volume, up 98.5% YoY on an FX neutral basis $3.9 billion Gross Merchandise Volume, up 39.7% YoY on an FX neutral basis BUENOS AIRES, Argentina, Feb. 10, 2020 (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq: MELI) (http://www.mercadolibre.com), Latin America’s leading e-commerce technology company, today reported financial results for the quarter ended December 31, 2019. Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., commented, “We are proud to announce the fourth quarter 2019 with a sustained momentum that gives us the confidence to move on to a phase of continuing to prioritize growth, but with a greater focus on driving cost efficiencies and scale benefits through the P&Ls of our larger more consolidated businesses. This will be one of our objectives for the upcoming year. We believe we are investing appropriately behind growth, building superior experiences and products for our consumers and merchants, and continuing committed to our long term goal of disrupting both commerce and finance in Latin America. We are also proud to invite you to check our sustainability report, also available for the first time along with the annual report.” Fourth Quarter 2019 Business Highlights Total payment volume (“TPV”) through Mercado Pago reached $8.7 billion, a year-over-year increase of 63.5% in USD and 98.5% on an FX neutral basis. Total payment transactions increased 127.2% year-over-year, totaling 285.5 million transactions for the quarter.Mercado Pago delivered successful execution in off-platform payments (online and offline) through merchant services, mobile point-of-sale (“MPOS”) devices and its mobile wallet business. On a consolidated basis, off-platform TPV grew 121.3% year-over-year in USD and 175.8% on an FX neutral basis.Off-platform TPV reached $4.7 billion in transactions and 209.4 million payments.Our MPOS business continues to be one of the fastest growing non-marketplace business units. On a consolidated basis, MPOS TPV grew 126.1% on an FX neutral basis.Mobile wallet surpassed for the first time the 1 billion mark, delivering this quarter $1.3 billion in transactions on a consolidated basis. Our mobile wallet consumer base grew by 29.4% compared to the third quarter, reaching 7.9 million active payers during the ...