MercadoLibre Q4 Profit Flat Year-Over-Year But Up 42% Excluding One-Time Items as Revenue Jumps
- MercadoLibre reported $165M Q4 net profit, flat vs last year due to $351M tax provisions in Brazil
- Excluding one-offs, net profit was $383M, up 42% in net revenue to $4.26B
- Brazil sales up 35% and is largest market, bringing over 50% of revenue
- Operating margin 13.4% excluding one-offs, down from 18.2% last quarter due to seasonal factors
- Mercado Pago revenues up 34%