Argentina is reinforced by 44 % in the profit of the free market in the first Tri

S. Free market He announced on Wednesday (7) an increase 44 % Net income in the first quarter compared to the previous year, over the estimates of the analysts, while recovering the operations in Argentina.

The company, the most valuable company in Latin America in the market value, got a net profit 494 million US dollars In the quarter ending in March, above the average prediction of analysts 420.9 million US dollarsCollected by Lseg.

The free market in the balance stated that Argentina was the most prominent in the quarter, with sales in the country, measured by the concept of GMV from the total value, as 126 % grow on a neutral exchange base compared to an increase of 40 % in the company’s total..

Financial Vice President, Martin de Los SantosHe told Reuters that the weakest comparison base helped Argentina numbers on the annual relationship due to the initial effects of the low value of weight at the end of 2023.

He added that inflation and low interest rates have also strengthened the increase in sales and credit appetite in the country.

“We have noticed improvements on our platforms (in Argentina) in the last quarters and continued in the first quarter,” he said..

The country’s strong numbers of the country said to the second position among the company’s largest markets in revenue, said Los Santos, bypassing Mexico and behind Brazil, which traditionally leads to arrangement. Argentina lost its position last year.

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The free market, which was in its market and in the Mercado Digital Bank, has paid its main sources of revenues, revenues from 5.9 billion dollarsmore 37 % Compared to the previous year, the average analyst expectations also exceed, 5.51 billion US dollars.

The free market has provided the constantly higher results than market estimates in recent years, amid strong investments in latin americaIt is a strategy that also generates some anxiety from investors about short -term profitability.

S. Profit before benefits and taxes (EBIT) He was 763 million US dollarsAbove 617.4 million US dollars Expect the analysts and an increase in 45 % Compared to the previous year.

The margin was 12.9 %, compared to 12.2 % recorded in the previous year.

In the field of financial services, the free market has increased its credit portfolio by 75 % over the previous year, to 7.8 billion US dollarsMainly driven by credit cards.

In December, and 15 to 90 days was 8.2 %, an increase of 0.8 percentage points Compared to the previous quarter and a comparison with 9.3 % Previous year.

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