Third Quarter 2020 Financial Highlights
-Net revenues for the third quarter were $1,115.7 million, a year-over-year increase of 85.0% in USD and 148.5% on an FX neutral basis, mainly attributable to commerce net revenues that continued accelerating and reached the highest historical growth rate.
-Commerce revenues increased 109.3% year-over-year in USD reaching $724.5 million, while Fintech revenues increased 52.3% year-over-year in USD reaching $391.2 million.
-Gross profit was $480.2 million with a margin of 43.0%, compared to 47.2% in the third quarter of 2019.
Total operating expenses were $397.1 million, an increase of 8.4% year-over-year in USD. As a percentage of revenues, operating expenses were 35.6%, compared to 60.7% during the third quarter of 2019.
-Income from operations was $83.1 million, compared to a loss of $81.9 million during the third quarter of 2019. As a percentage of revenues, income from operations reached 7.4%.
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.
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