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E-commerce giant MercadoLibre's 4th-quarter profit stable after tax hit

Reuters · 1y ago

E-commerce giant MercadoLibre's 4th-quarter profit stable after tax hit

E-commerce giant MercadoLibre reported a $165 million net profit for the fourth quarter, despite being offset by a tax hit. The company experienced a 42% year-on-year increase in net revenues, reaching $4.26 billion, with income from operations totaling $572 million. The Brazilian market accounts for over half of MercadoLibre's net revenues, while Argentina and Mexico each contribute around a fifth. Analysts have questioned the firm's ability to maintain both growth and profitability in the long term. Mercado Pago, the company's fintech arm, saw net revenues grow by 34%.

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Urban Company swings to ₹242.6 cr profit in 9M FY25

Inshorts · 4m ago

Urban Company swings to ₹242.6 cr profit in 9M FY25

Home and beauty services unicorn Urban Company reported a consolidated profit after tax (PAT) of ₹242.6 crore for the nine months ended December 31, 2024 (9M FY25) on account of a deferred tax gain of ₹215.5 crore. The IPO-bound e-commerce startup had posted a loss of ₹57.8 crore in the year-ago period.

Nykaa doubles quarterly profit, increases investment in Dot&Key and Earth Rhythm

YourStory

YourStory · 1y ago

Nykaa doubles quarterly profit, increases investment in Dot&Key and Earth Rhythm

E-commerce company Nykaa, known for its cosmetics and fashion offerings, reported a 120% increase in quarterly profit after tax. The company's parent firm, FSN E-Commerce Venture, saw a profit of Rs 14.24 crore during Q1, compared to Rs 6.45 crore in the same period last year. Nykaa also disclosed its intention to acquire an additional 39% stake in skincare brand Dot & Key Wellness Pvt. Ltd., as well as invest in Earth Rhythm Pvt. Ltd., a brand selling non-toxic and sustainable beauty products.

Shopify Exceeds Expectations in Q3, Forecasts Strong Revenue Growth for 2023

Business Bytes

Business Bytes · 1y ago

Shopify Exceeds Expectations in Q3, Forecasts Strong Revenue Growth for 2023

Canadian e-commerce giant Shopify has outperformed expectations in the third quarter, positioning itself for strong revenue growth in 2023, projected to be in the mid-twenties percentage range. This growth is expected to be driven by robust fourth-quarter revenue expansion, emphasizing Shopify's leadership in the e-commerce industry. The company's resilience and innovation have enabled it to thrive and become more competitive. Shopify's ability to adapt and exceed expectations reflects its continued success in the dynamic e-commerce landscape, making it a go-to platform for businesses of all sizes.

Chinese ecommerce giant JD beats estimates for quarterly profit

Economic Times

Economic Times · 1y ago

Chinese ecommerce giant JD beats estimates for quarterly profit

Chinese e-commerce giant JD.com reported better-than-expected quarterly profit, driven by a mid-year sales festival and aggressive price cuts. Competing with other major vendors like Alibaba, JD.com has focused on discounting and offering lower-priced goods to attract cost-sensitive consumers. The company's second-quarter profit, excluding certain items, increased by 73.7% to 9.36 yuan per share, surpassing estimates of 6.07 yuan. JD.com's revenue rose 1.2% to 291.40 billion yuan in the quarter. The company's performance reflects the increasing competition and the need for retailers to rely on discounting events to drive growth.

Tiger Global-funded Bizongo raises $50 Mn in Series E

Entrackr

Entrackr · 1y ago

Tiger Global-funded Bizongo raises $50 Mn in Series E

Bizongo, an e-commerce focused packaging company, has raised $50 million in a Series E funding round led by existing investor Schroder Adveq. The funding, which values the startup at $980 million, comes after a gap of over a year. Bizongo offers vendor management, supply chain automation, and supply chain financing services to its enterprise customers. The company aims to post a profit before tax in the fiscal year ending March 2024.

Zomato Gold Members Surge to 38 Lakh

Inc42 · 1y ago

Zomato Gold Members Surge to 38 Lakh

Zomato Gold, the customer loyalty program of foodtech giant Zomato, has gained 3.8 million members since its launch in January. The company revealed that Gold members now contribute around 40% of the gross order value of its food delivery vertical, amounting to INR 3,192 crore ($430 million) during the quarter ended September 2023. However, Zomato noted that Gold orders are less profitable due to program benefits, such as free deliveries. Despite this, Zomato reported its second profitable quarter, posting a profit after tax of INR 36 crore ($4.8 million).

JD.com beats quarterly revenue estimates as heavy discounts buoy demand

Reuters · 1y ago

JD.com beats quarterly revenue estimates as heavy discounts buoy demand

Chinese e-commerce giant JD.com has reported higher-than-expected fourth-quarter revenue, citing aggressive price cuts that have boosted consumer demand amidst a struggling economy. The company's net revenue for the quarter reached 306.1 billion yuan ($42.52 billion), surpassing analysts' average estimate of 300.04 billion yuan. JD.com's shares rose 9.4% in premarket trading following the announcement. The company also announced an increa

Flipkart Fashion head set to join Angel One as CBO

Economic Times

Economic Times · 12m ago

Flipkart Fashion head set to join Angel One as CBO

Mumbai-based stock broking company Angel One is reportedly hiring Arief Mohamad as its new chief business officer. Mohamad, previously heading the fashion vertical at Flipkart, has resigned from the e-commerce giant. Angel One has been competing with new-age tech brokers like Zerodha and Groww and has around 7 million active traders. The company has been diversifying into credit, wealth management, and stock broking, and reported total income of Rs 1,410 crore and net profit of Rs 292 crore in the June quarter of FY24.

Zomato Completes Liquidation of Czech Republic, Vietnam Subsidiaries

Inc42 · 1y ago

Zomato Completes Liquidation of Czech Republic, Vietnam Subsidiaries

Food delivery giant Zomato has completed the liquidation process of its subsidiaries in Vietnam and the Czech Republic. Zomato Vietnam Company Ltd and Czech subsidiary Lunchtime.cz s.r.o have been officially liquidated as of February 2 and February 6, 2024, respectively. This move comes as part of Zomato's strategy to close down international subsidiaries and cut costs in order to achieve and sustain profitability. Zomato recently reported a consolidated profit after tax of INR 138 Cr in the December quarter of 2023.

Walmart profits rise on strong sales from wealthier shoppers

Economic Times

Economic Times · 1y ago

Walmart profits rise on strong sales from wealthier shoppers

Walmart reported a more than tripled profit of $5.1 billion for the quarter ending April 30, driven by increased purchases from wealthier shoppers and improved e-commerce sales. The retail giant's revenues rose six percent to $161.5 billion. Walmart attributed the surge in sales to affordable pricing, convenience, and a focus on products like fresh food. The company also saw growth in its e-commerce sales, which grew 21 percent globally. Despite this, Walmart's e-commerce business is still not profitable, but it is working towards reducing delivery costs.

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