In this video, I will be talking about MercadoLibre's (MELI -0.95%) recent earnings report and why the company might be the best e-commerce stock around right now.
The company reported earnings per share of $2.43 and revenue of $2.6 billion, up 57% year over year (YOY), beating expectations of $2.51 billion.
- Total payment volume came in at $30.19 billion, up 83.9% YOY, and gross merchandise volume was $8.55 billion, up 26.2%.
Fintech net revenue (Mercado Pago) grew 112.5%, on top of the 104% last year, to $1.19 billion.
Gross profit margin grew by 510 basis points to 49.4%, and net income margin came in at 4.7% compared with 4% one year ago.
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*Stock prices used were the closing prices of Aug. 3, 2022. The video was published on Aug. 4, 2022.