Overview

* Mercadolibre ( MELI ) Q3 revenue grows 39% YoY to $7.4 bln, beating analyst expectations

* Commerce GMV rose to $16.5 bln, with Brazil and Mexico showing strong growth

* Mercado Pago credit portfolio grew 83% YoY to $11.0 bln

Outlook

* MercadoLibre ( MELI ) did not provide specific financial guidance for future quarters or the full year

Result Drivers

* STRATEGIC INVESTMENTS - Co attributes revenue growth to investments in free shipping and fulfillment, particularly in Brazil and Mexico

* FINTECH EXPANSION - Mercado Pago credit portfolio grew 83% YoY, with credit card becoming most used in Brazil

* ADVERTISING GROWTH - FX-neutral revenue growth accelerated to 63% YoY driven by Brazil and Mexico

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $7.40 $7.24

REVENUE bln bln (12

Analysts

)

Q3 GMV $16.50

bln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 23 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the online services peer group is "buy"

* Wall Street's median 12-month price target for MercadoLibre Inc ( MELI ) is $2,850.00, about 19.4% above its October 29 closing price of $2,295.92

* The stock recently traded at 47 times the next 12-month earnings vs. a P/E of 53 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)