Business Summary: Mercado Libre Inc is a Uruguay-based e-commerce business facilitator of Argentinian origins. The e-commerce products enable retail and wholesale via Internet platforms designed to provide users with a portfolio of services to facilitate commercial transactions. The Company's geographic coverage includes 18 countries of Latin America. The primary offer is an ecosystem of six integrated e-commerce services: the Mercado Libre Marketplace, the Mercado Libre Classifieds service, the Mercado Pago payments solution, the Mercado Credito financial solutions, the Mercado Envios logistic solutions including shipping, the Mercado Ads advertising platform and the Mercado Shops digital storefront solution.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2023, MercadoLibre Inc revenues increased 37% to $14.47B. Net income increased from $482M to $987M. Revenues reflect Net service revenues increase of 38% to $12.98B, Net product revenues increase of 36% to $1.49B. Net income benefited from Interest income and other financial gain increase from $265M to $723M (income), Provision for doubtful accounts decrease of 2% to $1.05B (expense).