MercadoLibre
Q4 2022 Earnings Call
Feb 23, 2023, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Richard Cathcart
Hello, everyone, and welcome to the MercadoLibre earnings conference call for the quarter ended December 31st, 2022. Thank you for joining us. I am Richard Cathcart, investor relations officer at MercadoLibre. Today we will share our quarterly highlights on video, after which we will begin our live Q&A session with our chief financial officer, Pedro Arnt; and president of our fintech business, Osvaldo Gimenez.
Before we go on to discuss our results of the fourth quarter of 2022, I remind you that management may make, and this presentation may contain, forward-looking statements, so please refer to the disclaimer on screen, which will also be available on our earnings materials on our investor relations website and our Form 10-K for the year ended 2022. With that, let's begin with a summary of our results.
Pedro Arnt -- Chief Financial Officer
Hi, everyone. I'm happy to share the key messages about MercadoLibre's performance during the fourth quarter of 2022 and the year as a whole. We're particularly pleased to have been able to deliver an attractive combination of growth and profitability throughout the year, alongside strong operational KPIs and market share gains, all while sustaining a high level of investment in products and technologies. We've successfully navigated a challenging environment, and we've reached new records across the business despite uncertainty around consumer spending, interest rates, and inflation.
With a strong fourth quarter, we end 2022 with record results in GMV, TPV, items shipped, and net revenue, as well as EBIT. Revenues, for example, for the first time ever, surpassed the $10 billion mark for the year. Quite a milestone for our company. EBIT also came in at a new landmark level, surpassing $1 billion while delivering margin expansion.
And, perhaps, even more unique is the combination of record EBIT and margin expansion while still growing revenues at roughly 50% year on year. During 2022, MercadoLibre strengthened its leadership of the e-commerce market in Latin America, as our data indicates that we achieved market share gains across the entire region with Brazil and Mexico standing out. These market share gains are grounded in our consistent investment and execution around all aspects of our commerce value prop and also over an extended period of time. Our ability to offer a very broad product assortment from sellers of all sizes at competitive prices and with fast deliveries continues to be a key differentiator for the company.