📊 MercadoLibre (NASDAQ:MELI), Latin America’s e-commerce and fintech juggernaut, has just dropped its Q3 2024 results, and they’re hard to ignore. Revenue surged 35% YoY, hitting $5.31 billion, with Gross Merchandise Volume climbing to $12.9 billion—a 71% FX-neutral growth. In Brazil and Mexico, GMV growth hit 34% and 27%, respectively. The platform now boasts nearly 61 million unique buyers, a 21% rise YoY.
🚀 MercadoLibre’s logistics investments are rewriting the rules. With six new fulfillment centers (five in Brazil and one in Mexico), the company isn’t just meeting demand—it’s paving the way for faster deliveries, stronger loyalty, and higher retention. This infrastructure creates a solid moat, driving more online shopping across LATAM.
💳 The Mercado Pago credit card portfolio exploded with 172% YoY growth, reaching $2.3 billion. While NIMAL spreads faced some compression (24.2% this quarter), MELI’s strategic pivot to higher-value credit products and rapid loan originations has strengthened its foothold in consumer and merchant finance. Credit portfolio growth of 77% YoY shows MELI’s belief in scaling its ecosystem for long-term gains.
🌟 From virtual try-ons in the beauty category to pre-scheduled installations for auto parts, MercadoLibre isn’t just selling products—it’s reinventing how Latin America shops. The loyalty program revamp into MELI+ Essentials and Total offers users tailored value, with perks like free shipping and streaming access. MELI continues to turn online skeptics into loyal customers.
💡 MercadoLibre isn’t merely riding the wave of e-commerce—it’s creating it. The company’s ability to blend logistics, fintech, and technology into one seamless platform is its secret weapon. Investors saw some margin pressure this quarter, but MELI’s long-term vision is reshaping LATAM’s digital future.
What do you think about it? Tag me on your favourite social media (Facebook / Instagram / LinkedIn / Reddit / X).
P.S. I research and interview economists, NZ investors and profitable companies to find tools & tactics that you can use to achieve financial freedom.
➔ Join my private newsletter to be the first one to learn insider tips! Here are examples of what you’ll get. It’s FREE. You can unsubscribe at any time. I treat your email as my top secret.
IMPORTANT: This article is of general nature only and readers should obtain advice specific to their circumstances from professional advisers.