MercadoLibre (Nasdaq: Meli), an e-commerce and marketplace company operating in several Latin American countries, saw its net revenues in Q2 2021 reach $1.7 billion U.S., 93.9% up, year-over-year.

The increased revenues come after a strong Q1 2021, in which the company also saw revenues increase on a year-over-year basis.

MercadoLibre said revenues for both its fintech and commerce business units grew at double digit. Commerce revenue rose 96.4% in Q2 2021, year-over-year, to $1.14 billion, while fintech revenues, which include payment service MercadoPago, grew 88.9%, year-over-year, to $560.4 million.

Classifieds is part of the company’s commerce business unit. The company doesn’t disclose revenues for classifieds.

MercadoLibre said net income in Q2 2021 was $68.2 million, 21.9% up, year-over-year.

The company’s Q2 2021 results can be seen here.

 

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