The following is a summary of the Mercari, Inc. (MCARY) Q2 2024 Earnings Call Transcript:
Financial Performance:
Mercari recorded its highest ever revenue in Q2 2024, with steady growth seen in each business segment.
Core operating profit met expectations for the quarter, with the Gross Merchandise Value (GMV) growing 10% year-on-year.
The adjusted core operating profit was approximately 37%.
Rapid growth was seen in the Fintech sector with Mercard issues reaching 2.5 million and the credit balance exceeding JPY 150 billion.
However, the company's US arm saw a negative growth rate of 12% year-on-year, largely due to inflationary impacts.
Business Progress:
Investments in the loyalty program and areas such as crossborder transactions, category growth, and B2C have resulted in GMV growth.
Mercari's updated mission of circulating value is being realized, with the number of verified users growing to over 23.54 million in Japan.
Plans are in place to launch an on-demand labor business in spring 2024, further expanding the Mercari ecosystem.
Future growth strategies include strengthened investment in user acquisitions and expanding the scope of smart payments and financial features.
To boost the US user base, the company has introduced face-to-face transactions and interest-based community functions to promote engagement.
More details: MERCARI INC UNSPON ADS EACH REP 0.5 ORD SHS IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.