Mercadolibre Shares Soar On Solid Q2 Revenue Growth, Margin Expansion

• Mercadolibre Inc (NASDAQ: 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.

See more from Benzinga

• Booking Holdings Shares Tick Lower After Q2 Revenue Miss, CEO Expects Busy Q3 Travel Season

• Qorvo Beats On Q1 EPS, Expects Strong Free Cash Flow Outlook for FY23

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.