MercadoLibre reported strong financial results for Q3 2024, with net revenues increasing 35.3% year-over-year to $5.31 billion, driven by 47.5% growth in Commerce revenues to $3.14 billion and 20.8% growth in Fintech revenues to $2.17 billion. Gross merchandise volume rose 13.6% while total payment volume jumped 34.0% compared to Q3 2023.Operating income decreased to $557 million from $785 million in Q3 2023, with operating margin declining to 10.5% from 20.0%, primarily due to higher cost of revenues and increased provision for doubtful accounts. The company maintained strong user metrics with 56 million Fintech monthly active users and 61 million unique active buyers.Brazil remained the largest market contributing 54.8% of revenues, followed by Mexico at 21.6% and Argentina at 19.4%. The company continued investing in logistics infrastructure and technology, with capital expenditures of $223 million during the quarter. Cash and investments position strengthened to $7.9 billion as of September 30, 2024.

MercadoLibre reported strong financial results for Q3 2024, with net revenues increasing 35.3% year-over-year to $5.31 billion, driven by 47.5% growth in Commerce revenues to $3.14 billion and 20.8% growth in Fintech revenues to $2.17 billion. Gross merchandise volume rose 13.6% while total payment volume jumped 34.0% compared to Q3 2023.Operating income decreased to $557 million from $785 million in Q3 2023, with operating margin declining to 10.5% from 20.0%, primarily due to higher cost of revenues and increased provision for doubtful accounts. The company maintained strong user metrics with 56 million Fintech monthly active users and 61 million unique active buyers.Brazil remained the largest market contributing 54.8% of revenues, followed by Mexico at 21.6% and Argentina at 19.4%. The company continued investing in logistics infrastructure and technology, with capital expenditures of $223 million during the quarter. Cash and investments position strengthened to $7.9 billion as of September 30, 2024.