MercadoLibre's Q3 earnings up 39.9% to US$26.2mn

- Friday, November 11, 2011

MercadoLibre's Q3 earnings up 39.9% to US$26.2mn

Latin American e-commerce firm MercadoLibre (Nasdaq: MELI) posted a US$26.2mn net income for 3Q11, surging 39.9% compared to the same period in 2010, according to financial results released by the company.

Net revenues came in at US$81.6mn, representing 45.8% year-on-year growth.

Total items sold in 3Q11 grew 38.1% to 14.4mn, while total payments transactions through MercadoPago jumped 103% to 3.9mn when compared to 3Q10.

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As in previous years, Brazil reported the highest revenues among MercadoLibre's markets, at US$46mn for the quarter, up from US$31mn a year ago. Argentina followed with US$15.8mn, up from US$10.8mn during 3Q10.

Heading into a holiday season, MercadoLibre expects to maintain these figures, fueled by a boost in demand for its services.

Founded in 1999, MercadoLibre is a regional e-commerce technology company. Through its primary platforms, MercadoLibre.com and MercadoPago.com, it provides solutions to individuals and companies buying, selling, advertising and paying for goods online.

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