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MercadoLibre Jumps After Results Show ‘Profitable Growth’

  • Revenue beat estimates while margins saw smaller contraction
  • E-commerce giant gains market share amid tough Brazil macro
Workers sort products at the MercadoLibre fulfillment center on Black Friday in Sao Paulo, Brazil, on Friday, Nov. 26, 2021. 

Workers sort products at the MercadoLibre fulfillment center on Black Friday in Sao Paulo, Brazil, on Friday, Nov. 26, 2021. 

Photographer: Jonne Roriz/Bloomberg
Updated on

Latin American e-commerce retailer and fintech provider MercadoLibre Inc. is reaping the rewards of its investment across the region over the past years, posting record revenue and better-than-expected profits even as the region’s economies cool down. 

Net sales in the three months through June 30 jumped 53% from a year earlier to $2.6 billion, according to a statement Wednesday, topping the $2.5 billion average estimate of analysts surveyed by Bloomberg. Operating margins fell to 9.6% from 9.8% in the same period last year, while Wall Street was bracing for a sharper contraction to about 7%.