Meikeduo’s Q3 net revenue reached US$1.9 billion, a year-on-year increase of 66.5%!

The third quarter earnings season is here, and major e-commerce platforms have announced their Q3 results. According to the financial report, Meikeduo's GMV in the third quarter increased to US$7.3 billion, a year-on-year increase of 23.9%; the mobile terminal accounted for more than 74%, and revenue increased by 66.5% year -on-year to US$1.9 billion; e-commerce business revenue increased by 69% year-on-year to US$1.2247 billion .

The financial report also shows that in the third quarter , Meikeduo's net income increased by 66.5% year-on-year in US dollars and 72.9 % on a foreign exchange neutral basis ; its financial technology revenue in US dollars increased by 61.7% year-on-year to US$632.8 million ; total operating expenses were US$646.2 million, a year-on-year increase of 62.7% in US dollars. Operating expenses accounted for 34.8% of revenue .

In terms of market segmentation, the revenue of Meikeduo in Brazil , Mexico and Argentina increased by 74%, 94% and 38% respectively; the profit reached US$806.6 million, the profit margin increased by 0.4% year-on-year , and the net profit reached US$160.4 million ; the number of active users reached 78.7 million .

In addition, interest income and other financial gains were US$35.4 million, up 44.0% year-on-year , while interest expenses and other financial losses in the third quarter increased 81.0% year-on-year ; foreign exchange losses were US$25.2 million, which the company said was due to currency depreciation in the three major markets.

Net income before income tax expense was $126.1 million, up 139.5% from last year . Live listings available on the MercadoLibre marketplace reached 335.1 million. Mobile gross merchandise transactions accounted for 74.1% of GMV. The shipping marketplace shipped 247.8 million units this quarter, up 32.1% year-over-year.

Meikeduo

Q3

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