Mercadolibre, Match Group Hit New Highs
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 5 November 2020
⏱️ 18 minutes
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Summary
2nd-quarter revenue for Mercadolibre skyrockets. General Motors sells a surprising (in a good way!) number of trucks and SUVs in the 3rd quarter. Match Group continues to dominate the market of digital dating. Jim Gillies analyzes those stories and shares why he likes to ask the question, “What do you hate about this company?” when evaluating a business.
Transcript
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| 0:00.0 | It's Thursday, November 5th. |
| 0:04.0 | Welcome to Mark Fulary. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:07.0 | It's Mr. Jim Gillies. |
| 0:09.0 | Good to see you. |
| 0:10.0 | Good to be seen, Chris. |
| 0:12.0 | We've got some out of motive news we're going to get to. |
| 0:15.0 | We've got some social network news we're going to get to. |
| 0:17.0 | Where are you going to start with the monster that is Mikado Libre, the Latin American e-commerce and FinTech company. |
| 0:26.0 | Second quarter profits in revenue solidly higher than expected. |
| 0:29.4 | In fact, revenue up basically 150% from a year ago and Mercado Pago which is their digital payment |
| 0:38.0 | system is just on fire. Yes, this is a, when I wrote my notes this morning on my other screen here, Chris, I did three words, |
| 0:50.9 | three sentences because each word required its own exclamation point and that's essentially what a quarter. |
| 0:57.8 | This is a monster. |
| 1:00.1 | Probably the best earnings report I've seen this quarter. |
| 1:03.0 | Yes, gross merchandise volume, which is where it all starts for these types of companies, |
| 1:08.0 | the amount of goods, the value of the goods that goes through their networks, |
| 1:11.0 | up 62% in US dollar terms and they were very clear |
| 1:16.7 | about specifying there's a US dollar term and then there's foreign exchange |
| 1:21.1 | neutral so basically in the localized currencies the US dollars |
| 1:24.0 | had a strong a strong quarter against the Latin American currencies so I'm |
| 1:29.8 | I'm going to in an effort to downplay how great this quarter was, I'm going to only quote the US dollar |
... |
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