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Introduction is the leading technology company for e-commerce and financial services. Latin America — reached a new record in total revenue in the second quarter of 2022, surpassing the performance of the first quarter. Net revenue reached US$ 2.6 billion in the second quarter of 2022, an increase of 52.5% in US dollars and 56.5% in constant currency, compared to the same period in 2021. Brazil represents about 56% of Mercado Livre’s total net revenue, reaching US$ 1.4 billion and growth of 52.5%.

Net revenue from the commerce business increased 23.0% in dollars year-on-year to $1.4 billion, driven by the strength of its marketplace, expanding digital advertising and 41 million unique shoppers in the quarter. Consumers remain active, generating growth in the number of items per buyer compared to the previous quarter. Fintech net revenue grew 112.5% in dollars, reaching US$1.2 billion, year over year — surpassing the US$1 billion mark for the first time, with the increasing relevance of financial services in the ecosystem. In the second quarter, Mercado Pago surpassed 38 million active users, an increase of 26.3%, with growth in all markets in the region, especially in payment services via QR code, transfers within the ecosystem and credit users.

“We saw a strong quarter across all businesses, reflecting continued improvement in profitability with record results in net revenue and gross profit. As a result of this consistent performance, we remain firm in our purpose of expanding access to trade and financial services”, says André Chaves, Senior Vice President of Strategy and Corporate Development at “The marketplace operation achieved solid results, with growth in sales and in the buyer base. Mercado Pago, on the other hand, maintains a strong pace of growth, with its user base on the rise and an increase in the volume of digital account and acquiring payments. Our strategy continues to prioritize the balance between profitable growth and cash management, supporting investment in technology for product development, always focusing on long-term differentiation”, he adds.


Marketplace sales volume (GMV) reached $8.6 billion in the second quarter, up 21.8% in US dollars and 26.2% in constant currency. Altogether, 275.2 million items were sold, with 6.7 items per buyer, which represents a growth of 12.3% — with emphasis on Argentina, Brazil and Mexico. The total volume of ads registered on the platform reached 300.5 million. Brazil stands out in the region with an 18.6% increase in GMV, in constant currency, and 143 million items sold in the period — 6.6 items per buyer, the highest level of the historical average for the second quarter.

With Mercado Envios, 264.1 million items were shipped in the region, an increase of 26.9% over the same period of the previous year. There were significant advances in the execution and speed of Mercado Envios, whose penetration reached 98.6% of the entire operation, above the 97.3% recorded in the same quarter of 2021. Of this total, more than 91.1% correspond to the managed network of — 38.6% of shipments were via the fulfillment model. Of the overall volume of goods, around 80% were delivered within 48 hours and around 55% on the same day or the day after purchase.

The marketplace operation maintains its relevant growth and market share in Latin America, based on investment in technology, as well as efficient logistics, a diverse base of sellers and assortment, improving user experience. Highlight for the expansion of the branch network — points of postage, collection and collection of goods, which are part of the logistics network — and of the air fleet, allowing to reduce the delivery time in the North, Northeast and Center-West regions of Brazil. Currently, delivery times in the main capitals of the country are around 1 to 2 days.

In addition, the loyalty program continues to grow year after year, reaching millions of subscribers and playing a fundamental role in the integration and engagement of and Mercado Pago users. From level 6, the highest of this program, users have higher frequency, sales volume and retention, taking advantage of attributes such as free shipping, discounts and entertainment services.

Commerce services continue to expand, especially Mercado Ads, which has been a consistent highlight in terms of growth and margin. In the second quarter, revenue from the digital advertising business recorded solid double-digit growth, corresponding to 1.2% of GMV from the marketplace operation, driven by constant investment in technology to expand the presence of ads in the ecosystem.


The loan portfolio reached almost US$ 2.7 billion – it was US$ 2.4 billion at the end of the first quarter of 2022 –, showing consistent growth and profitability. In the period, Mercado Crédito granted more than US$ 2.0 billion in credits, which represents more than triple the amount recorded in the second quarter of 2021, reaching more consumers and sellers, and delivering an important effect of integration in the ecosystem . With the profit margin increasing in the second quarter, the credit business contributed to the expansion of the operating margin.

Credit business also plays an important ecosystem role, as a tool to provide working capital to our seller and buyer bases, from personal loans and credit cards. To continue providing solutions for our ecosystem — in the marketplace, online checkouts, QR codes and Mercado Pago digital account deposits — the company announced in July that it had obtained more financing to expand its lines of credit in Brazil and Mexico.

Volume of payments (TPV) via Mercado Pago reached US$ 30.2 billion for the first time, an increase of 72.1% in US dollars and 83.9% in constant currency. This increase is observed both in acquiring and in the use of the digital wallet. The total volume of transactions (TPN) in the period grew 72.9%, year on year, surpassing around 1.2 billion in the second quarter, the third consecutive quarter with TPN above 1 billion.

The total volume of payments via Mercado Pago, outside the Mercado ivre platform, also continues to grow, reaching US$ 21.2 billion, up 104.7% in US dollars and 135.5% in constant currency.

So, total processed payments can be divided between the total volume of processed charges and the total volume of digital account transactions. The first includes charges on the  platform, online charges and charges processed through Point card machines and QR devices, which totaled US$ 20.8 billion, growing 48.5% in dollars, year over year, and 49 4% in constant currency. In the second quarter, 1.0 million machines were sold, boosting the volume of payments by device, especially in Brazil and Mexico.

In Brazil, there is still a notable growth in the base of sellers who started to adopt QR devices, especially micro and small entrepreneurs who already used machines and also adopted this modality. As a result, the total volume of payments via QR code more than doubled in the quarter, year over year.

The volume of transactions through the virtual wallet, which also includes transfers between Mercado Pago users, credit, debit and prepaid card transactions, grew 166.7% in constant currency, in the annual comparison, totaling more than US$ 9.3 billion.

At the end of June, more than 22.4 million users had accounts with invested resources, which brings together digital account users with income, up almost 30% year on year in the three main markets (Brazil, Mexico and Argentina ). Therefore, in Brazil , the only country that currently offers a cryptocurrency wallet, the service’s user base accumulates more than 1 million people.

In the period, more than 684 thousand insurance policies were distribute, a volume 230.0% higher than that registered in the second quarter of last year, representing a penetration of almost 8% of the total number of users. The distribution of insurance for cards and payments via PIX reinforces the insurance offer of Mercado Pago, which launched a new life insurance service in the country, in line with the expansion of the value proposition in all the main markets.

Financial Performance  gross profit was approximately US$ 1.3 billion, an increase of 70.3% in dollar terms compared to the same period of the previous year. Gross margins continue to grow year on year and quarter on quarter as we scale our business. Net income hit US$ 123 million, up 79.8%, with an improvement in the total margin, year on year. Operating income was US$ 250 million, up 50.6% in US dollars, reaching a new record in the quarter, with similar margins compared to the previous year.

The ecosystem’s overall active unique user base reached 84.3 million at the end of the quarter, up 11.0% compared to the same period in 2021 — with 3.5 million new users joining in the second quarter of this year alone.


Founded in 1999, (NASDAQ: Meli) is the leading e-commerce technology and digital financial services company in Latin America, with a presence in 18 countries. It offers a complete network of solutions so that individuals and companies can buy, sell, advertise, obtain credit and insurance, collect, send money. Save and pay for goods and services online and in physical stores. seeks to democratize trade and financial services in Latin America, a market that offers great opportunities and high growth potential. It applies world-class technology to design intuitive solutions adapted to local culture to transform the lives of millions of people in the region.

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