🔹 Revenue: $5.93B (Est. $5.52B) 🟢; UP +37% YoY | +64% FX-neutral
🔹 EPS: $9.74 (Est. $8.27) 🟢
🔹 TPV: $58.3B; UP +43% YoY |
🔹 GMV: $13.3B; UP +17% YoY
🔹 Items Sold: 492M; UP +28% YoY
🔹 Unique Active Buyers: 67M; UP +25% YoY
🔹 Fintech Monthly Active Users: 64M; UP +31% YoY
Segment Highlights
Commerce
🔸 GMV: $13.3B; +17% USD | +40% FXN
🔹 Brazil GMV: +10% USD | +30% FXN
🔹 Mexico GMV: +14% USD | +23% FXN
🔹 Argentina GMV: +77% USD | +126% FXN
🔹 Items Sold: +28% YoY; led by +65% YoY in Supermarket category
🔹 Unique Active Buyers: 67M; +25% YoY
🔸 Fulfillment penetration in Brazil: surpassed 60% in March
🔸 Cost per order declined YoY in Brazil, Mexico, Chile
Advertising
🔹 Revenue Growth: +50% YoY FX-neutral
🔸 Display share of Ads revenue up nearly 10ppts YoY
🔸 Mercado Play app launched on smart TVs—70M+ addressable devices
Fintech / Mercado Pago
🔹 TPV: $58.3B; +43% USD | +72% FXN
🔹 TPV Acquiring: $40.3B; +32% USD | +59% FXN
🔹 Credit Portfolio: $7.8B; +75% YoY
🔸 Brazil contributed +$800M QoQ to credit portfolio
🔹 15–90 Day NPL: 8.2%; stable YoY
🔹 NIMAL Spread: 22.7% (vs. 31.5% YoY); QoQ contraction due to seasonality and credit mix
🔸 Strong ecosystem stickiness from deposits and credit use
🔸 New merchant savings pot in Brazil pays 100% of benchmark rate
Geographic Performance (FX-neutral Revenue Growth YoY)
🔹 Argentina: +184%
🔹 Mexico: +51%
🔹 Brazil: +41%
🔹 Commerce Segment: +57%
🔹 Fintech Segment: +73%
🔹 Total MELI: +64%
