MercadoLibre, Inc. Q2 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

MercadoLibre Q2 2021 Earnings Summary

  • Report Date: For the quarter ended June 30, 2021
  • Revenue: $1.7 billion, up 94% YoY in USD and 103% FX-neutral
  • Gross Profit: $754 million, margin of 44.3% (down from 48.6% in Q2 2020)
  • Operating Expenses: $588 million, 34.5% of net revenues
  • Commerce Highlights:
    • Gross Merchandise Volume (GMV): $7B+; up 46% FX-neutral YoY
    • Items Sold: 245M, +37% YoY
    • Unique Buyers: Record 37.8M
    • Brazil GMV: +40% YoY, 125M+ items sold
    • Argentina GMV: +60% YoY, achieved record unique buyers
    • Mexico GMV: +29% YoY; +30% items sold YoY
    • Chile GMV: +230% YoY
  • Logistics (Mercado Envios):
    • Items Shipped: 230M+
    • Managed Network Penetration: 83%
    • Same Day Delivery: Launched in Brazil, Mexico, Argentina, Chile
    • Brazil Same Day Coverage: 20% of postal codes
    • Cross Docking: 40%+ penetration, Flex service now in 5 major cities
    • Over 50% of MELI deliveries made same or next day
  • FinTech (MercadoPago):
    • Total Payment Volume (TPV): $17.5B, +72% FX-neutral YoY

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Operator: Ladies and gentlemen, thank you for standing by. And welcome to the MercadoLibre Second Quarter 2021 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference may be recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Lisa Schreurs. Please go ahead. Lisa Schreurs : Hello, everyone, and welcome to the MercadoLibre earnings conference call for the quarter ended June 30, 2021. I am Lisa Schreurs, Investor Relations Officer for MercadoLibre. Our Chief Financial Officer, Pedro Arnt will be leading today's prepared remarks. Joining him on the line is Chief Executive Officer of MercadoPago, Osvaldo Giménez will be available during today's Q&A session. I remind you that management may make forward-looking statements relating to such matters as continued growth prospects for the company, industry trends and product and technology initiatives. These statements are based on currently available information and our current assumptions, expectations and projections about future events. While we believe that our assumptions, expectations and projections are reasonable, in view of the currently available information, you are cautioned not to place undue reliance on these forward-looking statements. Our actual results may differ materially from those included in this

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