Press release
MercadoLibre, Inc. Reports Second Quarter 2020 Financial Results
Net Revenues of $878.4 million, up 123.4% year-over-year on an FX neutral basis$11.2 billion Total Payment Volume, up 142.1% year-over-year on an FX neutral
About this update from Mercadolibre, Inc.
[{"type":"text","content":"Net Revenues of $878.4 million, up 123.4% year-over-year on an FX neutral basis$11.2 billion Total Payment Volume, up 142.1% year-over-year on an FX neutral basis$5.0 billion Gross Merchandise Volume, up 101.5% year-over-year on an FX neutral basis\n BUENOS AIRES, Argentina, Aug. 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 June 30, 2020. Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., commented, “The pandemic generated significant changes in consumer behavior, which translated into a new milestone in the penetration of e-commerce and online payments in the region. We continue to focus on the wellbeing of our teams, and we are proud to report that we’ve been able to provide an uninterrupted operation of our commerce and fintech solutions throughout the second quarter, helping millions of merchants and buyers to safely transact.” Second Quarter 2020 Business Highlights Unique active users grew 45.2% reaching 51.5 million.Gross merchandise volume (“GMV”) reached $5.0 billion, representing an increase of 48.5% in USD and 101.5% on an FX neutral basis.Items sold reached 178.5 million, growing 101.4% year-over-year.Live listings offered on MercadoLibre’s marketplace reached 289.0 million, a 26.2% year-over-year growth.Mobile gross merchandise volume grew 272.8% year-over-year on an FX neutral basis, reaching 69.4% of GMV.Even through these trying times and surge in managed volumes, Mercado Envios was able to ship 157.5 million items during the quarter without any significant disruptions, representing a 124.2% year-over-year increase.Total payment volume (“TPV”) through Mercado Pago reached $11.2 billion, a year-over-year increase of 72.1% in USD and 142.1% on an FX neutral basis. Total payment transactions increased 122.9% year-over-year, totaling 404.8 million transactions for the quarter.Off-platform TPV grew 92.1% in USD and 174.7% year-over-year on a FX neutral basis reaching $6.1 billion in transactions and 280.7 million payments, a 133.7% year-over-year growth.Merchant Services had a strong performance, aided by the shift to e-commerce consumption, accelerating sequentially to 163.9% on an FX neutral basis.Mobile wallet delivered $2.1 billion in transactions on...