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In the third quarter
The Argentine online sales company, listed on the New York Stock Exchange, continues to record numbers in red which, in any case, reduce by 61% its previous loss
On the same day that the world's major Internet players lost $ 76 billion worth of their shares, Mercado Libre also posted numbers in red, although less powerful than those of Facebook, Apple, Amazon, Netfix and Alphabet, the company that controls Google.
The Argentine company, which is listed on the US stock market, has announced an amount of US $ 10 million with the US Securities and Exchange Commission (SEC),
. In the "Financial Highlights for the Third Quarter of 2018", net income was $ 355.3 million, an annual increase of 16.5%. % in dollars.
Gross profit amounted to $ 169.7 million, up 57.7% from the third quarter of 2017, a figure related to an increase in free transportation subsidies. At the same time, its total operating expenses reached $ 180.7 million, up 21.9% over the year.
And, while the year was a significant red, the company explains that said operating loss had decreased by 61%.
In the case of Argentina, the document ensures that the country continues to maintain its momentum, both in volume of currency traded in constant currency and in growth of products sold (49%). interannual for both measures.
"This impulse was partly due to the loyalty program and free delivery, despite the difficult macro and monetary trends during the quarter," explains Mercado Libre.
In this context, adds that its net sales for the third quarter reached 355.3 million dollars, an increase of 16.5% in dollars and 58.3% in constant dollars compared to the same period, with a net loss of $ 10.1 million red per share of $ 0.23.
Its interest income, which reached US $ 8.6 billion, decreased by 39.2%, mainly due to lower revenues. financial investments due to the devaluation of the Argentine peso and the decrease of the floating of the exchange rate in the country where it has its seat.
To these figures, the company adds the financial expenses of US $ 159 million that it had to bear to the financial interests related to bonds and convertible bonds 2028 In Argentina, Uruguay and Chile,
In this regard, Pedro Arnt, Chief Financial Officer of Mercado Libre, has shown himself optimistic about the results, despite the net loss of the company.
We have consolidated our online and offline payment offering, successfully expanded our business in the financial services sector and made significant progress in developing our own logistics network, "Executive told SEC
Also minimized the red suffered knowing that the operating losses had decreased by 61% over the previous quarter, "since we achieved a balance EBITDA in the third quarter".
In the document, the The company also highlights the performance of Mercado Pago, which achieved a total operating volume of $ 4,600 million, up 24.1% from the third quarter last year. Transactions made with this application reached 103.9 million
.The report says that in September, for the first time, Mercado Pago not only dealt with offline transactions, but also the total of its transactions. The total number of payment transactions exceeded 100 million in one quarter.
"The total volume of mobile wallet payments in Argentina, Brazil and Mexico increases by three digits over one year," says the Mercado Libre report, in which he also remembers launching the badet management service in Argentina. "This is the first country where we started to offer a full set of technology solutions including mobile point-of-sale terminals, in-store QR code payments, a mobile wallet and business management. badets, "says the company.
In figures, the report highlights several aspects:
● Mercado Pago's total transaction volume reached US $ 4.6 billion, an increase of 24.1% in US dollars and 69.5% year-on-year. constant currency. The total number of transactions increased by 66.7% in one year, reaching 103.9 million.
● In September, Mercado Pago not only processed more transactions outside the Free Mercado platform, but also transactions. the total exceeded 100 million in a single quarter.
● Mobile or mobile payment already represents 46.5% of the volume of payments outside the Mercado Libre platform and with an increase of 636% in constant currency
● Your digital wallet has reaches one million active payers and the total volume of payments in Argentina, Brazil and Mexico increases by a triplicate number compared to .
Items sold increased 12.5% from one year to the next to reach 83.5 million, compared with 55.7% for the same period in 2017. This slowdown is attributed to the launch from a fixed rate in Brazil of 5 reais in the following articles 1 20 reais and the elimination of ads below the 6 reais allowing users to acquire higher valuables.
● Single buyers grew 9.4% year-on-year, up from 16.0% in the second quarter. This decreasing rate is explained by the price adjustments made in its value proposition, including the elimination of low-cost items and the requirement to make payments through Mercado Pago in Chile and Colombia, which temporarily affect growth.
● The supply of products rose 58.8% in one year, reaching 168.1 million active publications.
● Continue the transition to become a "mobile first" company. The mobile penetration rate in the sales volume increased by 19.5% in one year, which represents 58.1% of the total money traded on the platform.
● Items shipped by Mercado Envíos reached 54.3%. million euros, an increase of 30.2% year-on-year, thanks to greater free shipping options. Items shipped to Argentina, Mexico, Chile and Colombia increased by 74%, 99%, 147% and 83% respectively.
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