MercadoLibre (Nasdaq: Meli), an e-commerce and classified company operating in several Latin American countries, posted stronger third quarter (3Q) results this year.

The company saw net revenues grow by over $1 billion from $2.6 billion US in Q3 2022 to $3.7 billion in Q3 2023. Gross profit in 3Q 2023 was 48% up, year-over-year, to nearly $2 billion.

MercadoLibre said net income in Q3 2023 was $359 million, nearly three times the $129 million net income seen in Q3 2022.

The company also grew its user base from 88 million unique users in 3Q 2022 to 120 million unique users in 3Q 2023.

The company’s 3Q 2023 results can be seen here.

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