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MercadoLibre Earnings Call Highlights!
MercadoLibre $MELI posted very strong Q4 2021 results yesterday. Here are a few highlights from the earnings call that illustrate the monster quarter they had.
Commerce GMV:
- "In commerce, we had another very strong year, reaching $28.4 billion in gross merchandise volume, a full year growth of over 48% in GMV on an FX-neutral basis. This represents an additional $7.4 billion over 2020's GMV, positioning us well ahead of competitors and market share in the region for yet another year."
Fulfillment paying off:
- "We attribute this growing engagement and improving cohort behavior on our free shipping program that already delivers over 80% of GMV on our network at no cost to our buyers."
MercadoPago TPV:
- "Total payment volume reached $77.4 billion for the full year, growing 78% on an FX-neutral basis. Considering just the off-platform total payment volume, we reached over $48 billion and FX-neutral growth of 97% year-over-year."
A huge opportunity ahead:
- "Even after the significant uptake in digital services we experienced over the last couple of years, e-commerce penetration in our region is still only at around the 10% range. In the same light, even with all of the recent advances in the financial technology space in Latin America, we still live in a context where most people have difficulty accessing credit, savings and insurance products and controlling their finances."
Source: MercadoLibre Earnings Call
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