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MERCADOLIBRE, INC.

(MELI)
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Latam e-commerce giant MercadoLibre's quarterly loss widens

05/05/2021 | 04:12pm EDT

May 5 (Reuters) - MercadoLibre Inc posted a larger loss for the first quarter on Wednesday, hit by lower margins as the Argentine e-commerce giant boosts spending to respond to a surge in online shopping and digital payments in Latin America.

The company has been increasing investment in key areas, such as warehouses and fintech services, as it battles competitors including Amazon.com Inc in a rapidly growing market in which many shoppers are still unaccustomed to spending money online.

Its gross profit margin shrunk to 42.9% in the quarter ended March 31, from 48% a year earlier.

The company's net loss widened more than 61% to $34 million, or 68 cents per share, from a year earlier.

Quarterly revenue more than doubled to $1.4 billion. Analysts on average had expected revenue of $1.14 billion, according to IBES data from Refinitiv.

The second wave of COVID-19 that has hammered Brazil, which comprised 56% of MercadoLibre's total revenue, has sustained a surge in online shopping and digital payments in the region and neighboring countries including Argentina.

Total payment volume from its fintech arm Mercado Pago rose 81.8% to $14.7 billion as the company revs up its digital payments engine with many shops shifting online during the pandemic. (Reporting by Chavi Mehta in Bengaluru and Aluisio Alves in Sao Paulo; Editing by Christian Plumb and Aditya Soni)


© Reuters 2021
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Financials (USD)
Sales 2021 6 317 M - -
Net income 2021 17,0 M - -
Net cash 2021 1 316 M - -
P/E ratio 2021 6 585x
Yield 2021 -
Capitalization 70 032 M 70 032 M -
EV / Sales 2021 10,9x
EV / Sales 2022 8,08x
Nbr of Employees 15 546
Free-Float 91,8%
Chart MERCADOLIBRE, INC.
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Technical analysis trends MERCADOLIBRE, INC.
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 25
Average target price 1 900,22 $
Last Close Price 1 404,78 $
Spread / Highest target 78,0%
Spread / Average Target 35,3%
Spread / Lowest Target -23,5%
EPS Revisions
Managers and Directors
NameTitle
Marcos Eduardo Galperin Chairman, President & Chief Executive Officer
Pedro Arnt Chief Financial Officer & Executive Vice President
Daniel Rabinovich Chief Operating Officer & Executive Vice President
Emiliano Calemzuk Lead Independent Director
Mario Eduardo Vázquez Independent Director
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