Category: E-Commerce
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Q2 2026
Q1 2026
- MELI Q1 2026 Free Shipping Got Cut in Brazil - and Operating Margin Nearly HalvedMay 27
- SE Q1 2026 Sea's Revenue Grew 47%. Its Adjusted EBITDA Grew Just 9%May 26
- GOTO Q1 2026 GoTo's Real Operating Income Hit a Record Rp418 Billion. Its Stock Fell 20% Anyway.May 08
- CPNG Q1 2026 Did a $1.2 Billion Voucher Bill Just Wipe Out a Quarter's Profits?May 06
- BABA Q1 2026 Why Did Profit Fall Only 20% When Operating Income Cratered 64%?May 06
Q4 2025
- SE Q4 2025 Sea Posted Its Best Profit Quarter Ever. Its Stock Fell 29% AnywayMar 16
- GOTO Q4 2025 GoTo Beat Its Full-Year Guidance. Its Real Operating Loss Tripled the Same Quarter.Mar 13
- MELI Q4 2025 Revenue Grew 39% This Year - So Why Did Net Income Barely Move?Mar 10
- CPNG Q4 2025 Did a 33-Million-Account Data Breach Just Sink the Holiday Quarter?Feb 05
Q3 2025
- SE Q3 2025 Sea Grew 38% and Stayed Silent on Its $86 Million Settlement for a Third Straight QuarterNov 21
- MELI Q3 2025 A Brazilian Court Just Handed Down a $501 Million Tax Bill - Why Isn't It in the Headlines?Nov 14
- GOTO Q3 2025 GoTo Raised Its Guidance and Turned Cash Flow Positive. Its Real Operating Line Slipped Back Into a LossNov 06
- CPNG Q3 2025 The Buyback Finally Executed - Right as the Record Margins Cooled OffNov 04
Q2 2025
- SE Q2 2025 Sea Just Posted Its Best Quarter Ever. Its $86 Million Settlement Still Hasn't Come Up on a Call.Aug 25
- MELI Q2 2025 MELI's Stock Doubled in Two Years - So Why Did Net Income Just Fall?Aug 20
- CPNG Q2 2025 Record Margins, a Record Stock Price, and a Buyback Still Sitting UntouchedAug 11
- GOTO Q2 2025 Why Did GoTo's Stock Crash 30% in Its Best Quarter Yet?Aug 06
Q1 2025
- SE Q1 2025 Sea Had Its First Real Chance to Address an $86 Million Settlement. It Talked About a Rebrand Instead.May 27
- MELI Q1 2025 MELI's Credit Book Grew 75% - So Why Did Free Cash Flow Go Negative?May 19
- GOTO Q1 2025 Who Rewrites the Formula Behind Its Own First Profitable Year?May 08
- CPNG Q1 2025 A Material Weakness Vanished - But Nobody Actually Fixed AnythingMay 05
- BABA Q1 2025 Profit Jumped 63%, and This Time the Filing Actually Says WhyMay 04
Q4 2024
- MELI Q4 2024 Net Income Nearly Doubled in 2024 - So Why Did the Company's Own Auditor Flag the Credit Book?Mar 25
- SE Q4 2024 Sea Cleared the Profitability Bar This Series Set Two Quarters Ago. Its Earnings Call Skipped the $86 Million Settlement.Mar 18
- GOTO Q4 2024 FinTech Hit Breakeven By Rp14 Billion. Is That a Real Turnaround?Mar 13
- CPNG Q4 2024 Adjusted EBITDA Grew 28% - Net Income Fell 95%. Which One Is the Real Story?Feb 06
Q3 2024
- SE Q3 2024 Shopee Hit Its Promised Profitability Deadline. Did Sea's Own Numbers Finally Agree?Nov 25
- MELI Q3 2024 Why Did Operating Income Fall 29% While Revenue Grew 35%?Nov 25
- CPNG Q3 2024 Profitable Again - So Why Did Free Cash Flow Turn Negative?Nov 05
- GOTO Q3 2024 The Highest Adjusted EBITDA Ever Posted, and a Country Exit That Never Made It Into the FilingNov 04
Q2 2024
- MELI Q2 2024 Is Margin Being Traded for Market Share in Mexico?Sep 05
- SE Q2 2024 Sea Said All Three Businesses Got More Profitable. One of Them Didn't.Aug 27
- CPNG Q2 2024 A Record Margin Quarter, Erased by a Single FineAug 06
- GOTO Q2 2024 GoTo Just Posted Its Best Growth Quarter Since the Turnaround. Its Stock Hit an All-Time Low AnywayJul 30
Q1 2024
- SE Q1 2024 Sea Called This an 'Improved Profit Profile.' The Quarter Posted a Net Loss.May 28
- MELI Q1 2024 Why Argentina's Revenue Fell 22% in a Quarter It Was Actually BoomingMay 24
- BABA Q1 2024 The Six-Company Breakup Plan Quietly Disappeared From This Year's Annual ReportMay 08
- CPNG Q1 2024 The First Net Loss in Two Years Somehow Left Stockholders in the BlackMay 06
- GOTO Q1 2024 GoTo's Numbers Just Got 9% Smaller and 63% Bigger, Depending on Which One You ReadApr 30
Q4 2023
- SE Q4 2023 Sea Booked Its First Full-Year Profit Ever. Its Most Mature E-commerce Market Just Went Negative Again.Mar 19
- MELI Q4 2023 A Decade-Old Tax Dispute Just Cut Quarterly Profit by More Than HalfFeb 27
- CPNG Q4 2023 Coupang's First Profitable Year Hides a $905 Million AsteriskFeb 05
- GOTO Q4 2023 GoTo Hit Its Q4 Profit Target. Its Balance Sheet Just Took a Rp79 Trillion Hit to Get There.Jan 30
Q3 2023
- SE Q3 2023 Sea Ended Its Own Profit Streak — On PurposeNov 27
- CPNG Q3 2023 Coupang's Streak of Rising Profit Just Broke - Should Investors Care?Nov 13
- MELI Q3 2023 A Stock Buyback That Lost $386 Million to Argentina's Currency ControlsNov 06
- GOTO Q3 2023 The User Decline Just Stopped. Q4 Profitability Got Less Certain.Oct 26
Q2 2023
- SE Q2 2023 Sea Just Posted a Third Straight Profitable Quarter — Then Said It's Done Playing It SafeAug 29
- MELI Q2 2023 Every Country Segment Improved Margin Again - Is the Business Actually This Consistent?Aug 25
- CPNG Q2 2023 Coupang's Fifth Straight Quarter of Rising Profit Also Hides Its Widest Segment Gap YetAug 14
- GOTO Q2 2023 The New CEO Said Out Loud What Two Quarters of Earnings Calls Wouldn'tJul 27
Q1 2023
- MELI Q1 2023 Operating Income Jumped 144% - Is the Credit Book Finally Under Control, or Just Standing Still?Jun 05
- SE Q1 2023 Headline Profit Fell 79% Quarter-on-Quarter. The Real Number GrewMay 30
- CPNG Q1 2023 Coupang's Seasonally Weakest Quarter Just Beat Its Own Holiday PeakMay 15
- BABA Q1 2023 Alibaba Voted to Split Into Six Companies the Same Year Profit Finally RecoveredMay 08
- GOTO Q1 2023 Group Contribution Margin Turned Positive Exactly on Schedule. The User Base Kept Shrinking Anyway.Apr 27
Q4 2022
- SE Q4 2022 A First-Ever Profitable Quarter Came With $330 Million of Help That Won't RepeatMar 21
- GOTO Q4 2022 On-Demand Turned Profitable for a Full Quarter. The Balance Sheet Just Absorbed an Rp11 Trillion Hit for It.Mar 20
- MELI Q4 2022 Net Income Jumped 5.8x in a Year - But Is the Credit Book Growing Faster Than It Can Manage?Mar 10
- CPNG Q4 2022 Coupang Cut Its Full-Year Loss 94% - So Why Did the Stock Fall 50%?Feb 06
Q3 2022
- SE Q3 2022 Management Finally Said the Number Out Loud — Right as Its Own Users Started LeavingNov 30
- MELI Q3 2022 Past-Due Loans Just Hit 37% of the Credit Portfolio - Three Quarters Running. Should Investors Worry?Nov 21
- GOTO Q3 2022 Real Cost Discipline, or a Net Revenue Number That Doesn't Add Up?Nov 21
- CPNG Q3 2022 The First-Ever Profitable Quarter Doesn't Need an Asterisk This TimeNov 08
Q2 2022
- GOTO Q2 2022 The Margins Improved Sequentially. The Real Segment Losses Didn't.Aug 30
- SE Q2 2022 A First-Ever Goodwill Writedown, a Suspended Guidance, and a Stock Down 80% From Its PeakAug 30
- MELI Q2 2022 The Stock Fell 66% From Its Peak This Quarter - The Business Grew Revenue 52% and Turned Its Best Q2 Profit EverAug 19
- CPNG Q2 2022 The First Positive Adjusted EBITDA Quarter Has an AsteriskAug 11
Q1 2022
- GOTO Q1 2022 The first earnings call after Indonesia's biggest IPOMay 30
- SE Q1 2022 Bookings Turned Negative for the First Time Ever — And the Stock Fell 46% Right Alongside ItMay 30
- MELI Q1 2022 It Turned Profitable Again - So Why Is Operating Cash Flow Still Negative $233 Million?May 19
- CPNG Q1 2022 The Two-Segment Split Finally Answers Last Quarter's QuestionMay 10
- BABA Q1 2022 Net Income Fell 59%, and This Time a One-Time Charge Isn't the ReasonMay 09
Q4 2021
- MELI Q4 2021 Turned Profitable for the Year - But Q4 Alone Was a Net LossMar 21
- SE Q4 2021 Full-Year Adjusted EBITDA Turned Negative for the First Time Ever — Right as Its Own Guidance Points to a Shrinking GarenaMar 01
- CPNG Q4 2021 Active Customers Bounced Back — So Why Did the Full-Year Loss More Than Triple?Feb 07
Q3 2021
- SE Q3 2021 Adjusted EBITDA Went Negative Again — This Time, It Wasn't an Accounting IllusionNov 30
- MELI Q3 2021 Both Brazilian Tax Defenses Just Lost Round One - Where's the Reserve?Nov 28
- CPNG Q3 2021 Revenue Grew 48% This Quarter — So Why Did the Paying Customer Base Shrink?Nov 08
Q2 2021
- SE Q2 2021 Adjusted EBITDA Turned Negative Again. Here's the One Number That Explains WhyAug 30
- MELI Q2 2021 Why Did Operating Cash Flow Go Negative While Revenue Nearly Doubled?Aug 27
- CPNG Q2 2021 A $296 Million Fire Explains Half This Quarter's Loss — What Explains the Rest?Aug 12
Q1 2021
- SE Q1 2021 Four Straight Profitable Quarters, and This Time No Stock Sale Paid for ItMay 25
- MELI Q1 2021 Stockholders' Equity Just Went Negative - Should That Actually Worry You?May 20
- CPNG Q1 2021 Public for Six Weeks, and Already Flagging That Its Own Controls Don't WorkMay 13
- BABA Q1 2021 Revenue Grew 41%, the Fastest in Three Years, But Operating Income Actually FellMay 08
Q4 2020
- MELI Q4 2020 Revenue Nearly Doubled in 2020 - So Why Did the Company Barely Break Even?Mar 10
- SE Q4 2020 Group Adjusted EBITDA Went Positive for the Full Year. So Did Two Multi-Quarter MysteriesMar 02
Q3 2020
- SE Q3 2020 Group Adjusted EBITDA Hit $120 Million. So Did the Adjusted-Revenue Metric That Used to Track ItNov 17
- MELI Q3 2020 Revenue Doubled in the Pandemic - So Why Are Internal Controls Still Broken?Nov 16
Q2 2020
- MELI Q2 2020 Every Segment Got More Profitable During Lockdown - Even Mexico, for the First Time EverAug 24
- SE Q2 2020 Sea Turned Adjusted EBITDA Positive for the First Time. The Stock Got There FirstAug 18
Q1 2020
- MELI Q1 2020 Revenue Grew 37.6% in the First COVID Quarter - So Why Did Operating Cash Flow Go Negative?May 20
- SE Q1 2020 Sea's Losses Shrank During a Pandemic. Was That the Business or the Lockdowns?May 18
- BABA Q1 2020 Net Income Grew 70%, But Two One-Time Gains Are Bigger Than the Entire IncreaseMay 08
Q4 2019
- PDD Q4 2019 GMV Crossed ¥1 Trillion in 2019 — So Why Did It Just Fund Its Own Executives to Buy a Payment Company?Apr 22
- SE Q4 2019 The Question That's Chased Sea for Three Quarters Just Got an AnswerFeb 27
- MELI Q4 2019 Losses Widened Nearly 5x in 2019 - Was the Spending Actually Worth It?Feb 24
Q3 2019
- SE Q3 2019 Sea's Path to Breakeven Got Longer. Its Payments Business Is Why.Nov 15
- MELI Q3 2019 A $146 Million Net Loss Just Landed - Is the Investment Cycle Working or Spiraling?Nov 15
Q2 2019
- MELI Q2 2019 Investors Just Got Told It's Spending the $2 Billion - Should That Worry You?Aug 20
- SE Q2 2019 Sea's Adjusted EBITDA Loss Shrank to $11 Million. Its Net Loss Still Grew.Aug 20
Q1 2019
- SE Q1 2019 Sea's Net Loss Tripled Because Its Stock Price RoseMay 22
- MELI Q1 2019 It Raised $2 Billion From PayPal and Wall Street - What Is It Actually Buying?May 17
- BABA Q1 2019 Operating Income Fell 18% the Same Year Net Income Grew 37%May 10
Q4 2018
- MELI Q4 2018 The First Full-Year Loss Since 2007 - What the Footnotes Say About WhyFeb 28
- SE Q4 2018 Its Equity Just Went Negative. Nobody Mentioned It.Feb 27
- PDD Q4 2018 The $866 Million Founder Payout Hiding Inside a 652% Revenue SurgeFeb 11
Q3 2018
- SE Q3 2018 Sea's Net Loss Finally Shrank. Its Equity Almost Disappeared.Nov 21
- MELI Q3 2018 It Raised Nearly $1 Billion in Debt - While Still Posting a Net LossNov 02
Q2 2018
- SE Q2 2018 Sea's Payments Volume Grew 608%. Then Sea Retired the Metric Measuring It.Aug 21
- MELI Q2 2018 It Just Booked Its First Net Loss in Years - Was It Worth It?Aug 09
- BABA Alibaba Just Bought Out Every Partner It Used to Only Have a Contract WithMay 11
Q1 2018
- MELI Q1 2018 It Spent $112 Million on Free Shipping in One Quarter - and Flipped Straight to a LossJun 14
- SE Q1 2018 Sea Raised Its 2018 Guidance — So Why Did Its Losses Triple?May 15
- BABA Q1 2018 Net Income Grew 47%, But a New Non-Cash Gain Arrived the Same Year an Old One ReversedMay 11
Q4 2017
- MELI Q4 2017 One Month of Venezuela Just Erased 90% of a Full Year's ProfitMar 20
- SE Q4 2017 Why Did Sea's Loss Triple the Same Quarter It Went Public?Feb 27
Q3 2017
- MELI Q3 2017 Revenue Is Up 61%, So Why Did Operating Margin Fall by Two-Thirds?Nov 24
- SE Q3 2017 73% Growth on the Cover, 4% in the GAAP LineNov 22
Q2 2017
Q1 2017
- MELI Q1 2017 Free Cash Flow Went From Negative $26 Million to Positive $94 Million in a Single Year - What Changed?May 19
- BABA Q1 2017 Net Income Fell 39% the Year Revenue Grew 56%May 10
Q4 2016
Q3 2016
Q2 2016
Q1 2016
- MELI Q1 2016 Why Did Free Cash Flow Just Go Negative for the First Time?May 16
- BABA Q1 2016 Two Accounting Gains Explain 92% of the Profit Growth, and a Second SEC Inquiry OpensMay 09
Q4 2015
Q3 2015
Q2 2015
Q1 2015
- MELI Q1 2015 Net Income Fell 94% This Quarter - the Venezuela Bill Finally Came DueMay 18
- BABA Q1 2015 Seven Shareholder Lawsuits and an SEC Inquiry, Six Months After the IPOMay 06
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
- MELI Q4 2013 Margins Recovered for the First Time All Year - So Why Did Free Cash Flow Collapse 77%?Feb 28
Q3 2013
- MELI Q3 2013 The Corporate-Cost Problem Got Worse, Not Better, and the Stock Rallied 25% AnywayNov 07
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011
- MELI Q3 2011 Brazil's Margin Relapse Fully Reversed - So Why Did Unallocated Costs Grow Even Faster?Nov 04
Q2 2011
Q1 2011
- MELI Q1 2011 The Segments Recovered From Free Payments - So Why Did Operating Margin Fall Again?May 24
Q4 2010
Q3 2010
Q2 2010
Q1 2010
Q4 2009
Q3 2009
Q2 2009
Q1 2009
Q4 2008
Q3 2008
Q2 2008
Q1 2008
Q4 2007
Q3 2007
- MELI Q3 2007 A 44% Stock Swing Inside Its First Ten Weeks of Trading, and a 74x Jump in Net IncomeNov 14