MercadoLibre Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 49% year-over-year revenue growth, record GMV and fintech expansion, and continued margin compression due to bold investments in logistics, credit, and free shipping, especially in Brazil. Engagement and market share reached new highs across key markets.
Fiscal Year 2025
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Q4 2025 saw 45% revenue growth year-over-year, with strong commerce and fintech momentum, record NPS, and accelerated AI-driven advertising. Margin pressure stems from strategic investments, but all business units are expanding rapidly into 2026.
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Revenue grew 39% year-over-year, with accelerated GMV and user growth driven by strategic investments in free shipping, logistics, and credit cards. Operating income rose 30%, while margin pressure is expected to ease as scale increases.
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The conference highlighted strong growth in both e-commerce and fintech, driven by ecosystem integration, strategic shipping changes, and targeted marketing. Investments in logistics, credit cards, and advertising are fueling user and revenue growth, with disciplined long-term value focus. AI and new B2B/1P initiatives are expanding capabilities and market reach.
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Q2 2025 saw over 30% revenue growth and record operating income, driven by strong commerce and fintech performance, especially in Brazil and Mexico. Lower free shipping thresholds and fee reductions boosted user engagement, while fintech and advertising segments delivered robust growth.
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The meeting highlighted a CEO transition effective 2026, strong financial growth with 38% revenue increase, and major board elections. All proposals, including executive compensation and auditor ratification, were approved by shareholders.
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Q1 2025 saw robust growth in both e-commerce and fintech, with Argentina delivering standout results and margin expansion. Investments in logistics and fintech continue, while new branding and product initiatives strengthen the ecosystem. EBIT margin rose 70 bps year-over-year.
Fiscal Year 2024
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Revenue reached $21B with over $1B in free cash flow, driven by strong e-commerce and fintech growth, record user expansion, and disciplined investments in logistics and credit. Credit portfolio grew 74% year-over-year, with cautious risk management in Brazil and rapid fintech growth in Argentina.
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Q3 saw robust growth in commerce and fintech, with revenue up 35% year-over-year and strong user acquisition. Strategic investments in logistics, credit, and loyalty programs drove market share gains, while margin pressures were mainly due to rapid credit expansion and a one-time refund expense.
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Q2 2024 saw over 40% revenue growth, record net income margin, and strong expansion in both commerce and fintech, with Brazil and Mexico leading market share gains. Logistics and AI innovation, plus new cross-border and fintech initiatives, underpin continued optimism.
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Shareholders were welcomed and updated on record financial results, strong growth in both e-commerce and fintech, and strategic plans for continued innovation. All voting items, including director elections and auditor ratification, were approved by a large majority.