Mercadolibre, Inc. ( (MELI) ) has released its Q3 earnings. Here is a breakdown of the information Mercadolibre, Inc. presented to its investors.
MercadoLibre, Inc., Latin America’s leading e-commerce and fintech company, has reported its Q3’24 financial results, showcasing solid growth across its core businesses. The company focuses on increasing online commerce penetration and becoming a principal financial services provider in the region.
In Q3’24, MercadoLibre achieved net revenues and financial income of $5.3 billion, marking a 35% year-over-year increase. The company reported a net income of $397 million, with a 7.5% margin, and a total payment volume of $50.7 billion, up 34% from the previous year. Unique buyers reached nearly 61 million, reflecting a 21% increase year-over-year.
The company’s e-commerce and fintech segments experienced significant growth, with gross merchandise volume increasing by 14% year-over-year. Mercado Pago, the fintech arm, saw monthly active users rise by 35% to 56 million. The credit portfolio expanded rapidly, with the credit card portfolio growing 172% year-over-year. Additionally, MercadoLibre opened new fulfillment centers in Brazil and Mexico, enhancing its logistics capabilities.
Looking forward, MercadoLibre remains optimistic about capturing further growth opportunities in commerce, advertising, fintech services, and acquiring across Latin America. The company is committed to strategic investments to drive sustainable, profitable growth, backed by its robust financial flexibility and upgraded investment grade credit rating.
