Latin America's auction site MercadoLibre reports an 81.7 percent growth in revenue to USD 34.5 million in Q2 2008. Payments revenues have increased by 113.4 percent to USD 6.2 million during the same period, as compared with USD 2.9 million in Q2 2007. The increase in revenue was caused by a growth in gross merchandise as well as in total payment volume.

Gross profit climbed 84.1 percent, hitting USD 27.6 million over USD 15 million reported in the corresponding period of 2007. Gross margin climbed 80 percent, as compared with 78.9 percent in Q2 2007. Income from operations jumped 69.6 percent to USD 8.1 million from USD 4.8 million reported in Q2 2007. MercadoLibre also posts USD 2.5 million in income tax expenses for the period ending June 2008, a figure which has climbed 35.2 percent, as compared with USD 1.8 million reported in Q2 2007. Earnings per share for Q2 2008,including basic and diluted, stood at USD 0.07 per share.