These strong operational metrics translated well into financial performance. Specifically during the second quarter of 2012 net revenues grew 28% in U.S. dollars to $88.8 million, a 47% growth in local currencies. Gross profit margin was 73.1% versus 75.6% in the second quarter of 2011 and 74.8% in the first quarter of 2012 driven principally by the growth of our lower-margin Payments business.Income from operations grew 48% to $31.9 million with an operating income margin of 35.9% versus 31.1% in the first quarter of 2011. In local currencies, operating income grew 66% year-on-year. Net income before income asset tax expenses grew 56% year-on-year to $35.1 million. In local currencies, pre-tax income grew 77%. Net income was $25.4 million, growing 71% year-on-year. This represents a 28.6% net income margin versus 21.4% a year earlier. When measured in local currencies, net income grew 91% year-on-year during the second quarter.
MercadoLibre's CEO Discusses Q2 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.