MercadoLibre to increase investments in Brazil to $4.6 bln in 2024 [Reuters]
MercadoLibre, Inc. (MELI)
Last mercadolibre, inc. earnings: 2/10 04:01 pm
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Source: Reuters
The amount, which includes investments and also some expenses seen by the company as strategic, represents an acceleration on the pace of the company's annual investments in Brazil after a 11.5% rise in 2023. Fernando Yunes, a senior vice-president at MercadoLibre and the leader of its marketplace operations in Brazil, told Reuters this acceleration could be attributed to the firm's intention to keep gaining share in the country in 2024 and to expectations of a slightly better market when compared to last year. However he noted the investments are focused in the long-term. The Uruguay-based company, which generates more than half of its revenue in Brazil, has been raising its investments in the South American nation over the past few years, partially boosted by a pandemic-related boom in the e-commerce segment. As a comparison, MercadoLibre invested 2 billion reais in the country in 2019. Yunes said the company intends to concentrate its investments in the country this year
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MELI
Earnings
- 2/22/24 - Miss
MELI
Sec Filings
- 4/25/24 - Form DEFA14A
- 4/25/24 - Form DEF
- 4/23/24 - Form 8-K
- MELI's page on the SEC website