“Shop like a billionaire” is a familiar slogan to US consumers looking at Temu. Cheap imported goods have propelled the Chinese company’s success in the US and more broadly, notably also in Mexico. This week Temu owners PDD received authorisation to launch in Brazil (specifically to operate under the favourable Remessa Conforme tax regime) - which we would anticipate happening soon.
StoneCo reported Q1s after close. Having recently updated its accounting for membership fees (negatively affecting revenue and down through the P&L) consensus was, according to IR, a mix of old and new – and not so helpful therefore.
StoneCo Reports First Quarter 2024 Results Adjusted EBT reaching R$568 million, up 75% year over year, on MSMB TPV growth including PIX P2M of 24%, resulting in Adjusted Net income of R$450 million, up 90% year over year GEORGE TOWN, Grand Cayman, May 13, 2024 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) (“Stone” or the “Company”) today reports its financial results for its first quarter ended March 31, 2024. Business Overview 1Q24 represented continuous business growth, delivering on our strategic priorities. In financial services, Stone performed well in all c...
Kaspi is a Super App the likes of which we haven’t really seen develop outside of China. Dominant in Payments, roots in lending and with group growth currently driven by triple digit top-line in the leading local E-Commerce platform. Obvious comparisons in our coverage are with MercadoLibre (Buy), which we continue to be positive on and which we benchmark Kaspi against in this note.
MercadoLibre, Inc. Reports First Quarter 2024 Financial Results Montevideo, May 02, 2024 (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq: MELI) () today reported financial results for the quarter ended March 31, 2024, in a Letter to Shareholders, which is now posted to the company’s Investor Relations website . The Company will host its earnings video conference, as well as a conference call and audio webcast for any questions that investors may have, on May 2, at 5:00 p.m. Eastern Time. To access our video webcast and the live audio, investors, analysts and the market in general may ...
MercadoLibre, Inc. to Report First Quarter 2024 Financial Results Montevideo, April 29, 2024 (GLOBE NEWSWIRE) -- MercadoLibre, Inc. to Report First Quarter 2024 Financial Results MONTEVIDEO, Uruguay; April 29, 2024; (GLOBE NEWSWIRE) -- MercadoLibre, Inc. (Nasdaq: MELI) () announces that it intends to release financial results for its first fiscal quarter ending March 31, 2024, on May 2, 2024. The Company will host its earnings results video conference, as well as a conference call and audio webcast, on May 2, at 5:00 p.m. Eastern Time. In order to access our video webcast and...
StoneCo Ltd. to Announce First Quarter 2024 Financial Results on May 13, 2024 and Adopt New Internal Accounting Policy GEORGE TOWN, Grand Cayman, April 16, 2024 (GLOBE NEWSWIRE) -- StoneCo Ltd. (Nasdaq: STNE, B3: STOC31) (“Stone”) announces that it will release its first quarter 2024 financial results on Monday, May 13, 2024 after the market closes and will host a conference call that afternoon at 5:00pm ET (6:00pm BRT) to discuss the results. The Company also announces that, beginning in the first quarter of 2024, it will adopt a new internal accounting policy for the recognition of mem...
We held a call with MercadoLibre in the run up to the Q1s (early May expected). Narrative continues to be dominated by Argentina, with the market focused mainly on EBIT (where street estimates look a shade too high still and may provide an ongoing headwind) but where focus should really be on PBT or net income i.e. after FX expatriation costs and where consensus feels better placed (though with the wrong maths we think!).
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