Press release
MercadoLibre, Inc. Reports Third Quarter 2020 Financial Results
Net Revenues of $1,115.7 million, up 148.5% year-over-year on an FX neutral basis$14.5 billion Total Payment Volume, up 161.2% year-over-year on an FX neutral
About this update from Mercadolibre, Inc.
[{"type":"text","content":"Net Revenues of $1,115.7 million, up 148.5% year-over-year on an FX neutral basis$14.5 billion Total Payment Volume, up 161.2% year-over-year on an FX neutral basis$5.9 billion Gross Merchandise Volume, up 117.1% year-over-year on an FX neutral basis\n BUENOS AIRES, Argentina, Nov. 04, 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 September 30, 2020. Pedro Arnt, Chief Financial Officer of MercadoLibre, Inc., commented, “We are proud to announce MercadoLibre’s third quarter results, recording another strong quarter, driven by high demand for e-commerce and fintech services. During these last three months we’ve begun to consolidate our leadership position both for mid and long tail segments and started to strive for the higher segments of the merchant pyramid. Once again, we want to reinforce our commitment to the democratization of commerce and payments in a region in urgent need. The opportunity ahead of us is sizable, and we feel increasingly confident that we can capitalize on it.” Third Quarter 2020 Business Highlights Unique active users grew 92.2% reaching 76.1 million.Gross merchandise volume (“GMV”) reached $5.9 billion, representing an increase of 62.1% in USD and 117.1% on an FX neutral basis.Items sold reached 205.7 million, growing 109.9% year-over-year.Live listings offered on Mercado Libre’s marketplace reached 303.9 million, a 22.3% year-over-year growth.Mobile gross merchandise volume grew 283.8% year-over-year on an FX neutral basis, reaching 70.0% of GMV.Even through these trying times and challenging increases in managed volumes, Mercado Envios was able to ship 187.6 million items during the quarter without any significant disruptions, representing a 131.1% year-over-year increase.Total payment volume (“TPV”) through Mercado Pago reached $14.5 billion, a year-over-year increase of 91.7% in USD and 161.2% on an FX neutral basis. Total payment transactions increased 146.6% year-over-year, totaling 559.7 million transactions for the quarter.Off-platform TPV grew 114.3% in USD and 196.5% year-over-year on a FX neutral basis reaching $8.4 billion in transactions and 416.8 million in payments, a 163.3% year-over-year growth.Online Payments had a strong performance, ...