(Bloomberg)-Mercadolibre Inc. They gathered after the profit of Latin American e-commerce and the fintech giant far outweighed the estimates.
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The net revenue in the fourth quarter was a record $ 639 million compared to an average estimate of $ 406 million analysts, according to Bloomberg data. $ 6.1 billion in revenue in the quarter also won expectations. The shares jumped as many as 12.5% outdoors for trading in New York.
The strong end of the year comes after the third quarter that disappointed investors who encouraged sale after multiple measuring information about profit missed on the back of increased investments in logistics and credit. Shares in the most respected company of Latin America, with a market value of about $ 119 billion, recovered strongly, getting 37%.
“It was a very good quarter. We thought we had a very good quarter in the last quarter. It doesn’t go straight,” said Martin de Los Santos Financial Director in an interview. “This was probably the best year in our history in terms of financial results, operational results, the improvements we made on the product.”
The profit of the full year of Mercadolibre jumped to $ 1.9 billion at $ 2024 at $ 21 billion in revenue, which increased 38% compared to the year, the statement said.
In the fourth quarter, while the amount of gross goods of $ 14.5 billion arrived below the estimates, the total volume of payment of $ 59 billion was largely in accordance with expectations.
A company that receives most of its business from Brazil, Mexico and Argentina has increased its property under the administration to $ 10.6 billion, and the credit book at $ 6.6 billion, and part of the credit card portfolio more than doubles last year, states, states printing edition.
However, Mercadolibre managers said in an invitation with analysts to stay careful on loan with regard to macroeconomic uncertainty in Brazil, where interest rates should take further.
In Argentina, where President Javier Milei takes dramatic reductions and consumption reforms to try to abolish inflation and stabilize the economy, Mercadolibre “doubled” his credit book in the last year through consumers and traders’ loans, said De Los Santos. Although the company is not yet ready to start offering credit cards in that market, he said.
