From Nasdaq: 2024-08-02 13:10:00

MercadoLibre (MELI) reported Q2 2024 earnings of $10.48 per share, surpassing estimates by 20.2%. Revenues soared 42% to $5.07 billion, with commerce and fintech revenues driving growth. GMV reached $12.65 billion, up 83.1% YoY. Operating margin stood at 14.3%. Cash and short-term investments increased in Q2.

Brazil, Argentina, Mexico, and other countries drove revenue growth in Q2. Successful items sold and shipped rose YoY. TPV surged 86.2%, while total payment transactions increased by 54.8%. Fintech monthly active users reached 52 million. Operating margin was 14.3%.

MercadoLibre holds a Zacks Rank #3. Better-ranked retail-wholesale stocks include The Gap (GPS), Amazon (AMZN), and Best Buy (BBY). These stocks have shown growth in the year-to-date period. Investors can explore potential opportunities in these companies for substantial growth.

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Read more at Nasdaq: MercadoLibre’s (MELI) Q2 Earnings & Revenues Beat, Up Y/Y