MercadoLibre, Latin America's largest e-commerce ecosystem, reported strong financial results for Q2 2024, with net revenues and financial income rising 41.5% year-over-year to $5.07 billion. Net income more than doubled to $531 million from $262 million in Q2 2023, while operating income grew 8.5% to $726 million. The company's gross profit margin was 46.6%.Commerce revenues increased 53.4% to $2.97 billion, driven by a 20.4% rise in gross merchandise volume and 30.4% growth in shipped items. Fintech revenues grew 27.5% to $2.1 billion, supported by a 35.6% increase in total payment volume and 54.8% growth in payment transactions. Brazil remained the largest market, contributing 54.9% of total revenues, followed by Mexico at 23.7%.The company continued investing in its logistics network and technology infrastructure, with capital expenditures of $184 million in Q2. Cash and investments totaled $4.09 billion as of June 30, 2024. MercadoLibre maintained strong operational metrics with 52 million fintech monthly active users and 57 million unique active buyers, demonstrating sustained platform engagement.

MercadoLibre, Latin America's largest e-commerce ecosystem, reported strong financial results for Q2 2024, with net revenues and financial income rising 41.5% year-over-year to $5.07 billion. Net income more than doubled to $531 million from $262 million in Q2 2023, while operating income grew 8.5% to $726 million. The company's gross profit margin was 46.6%.Commerce revenues increased 53.4% to $2.97 billion, driven by a 20.4% rise in gross merchandise volume and 30.4% growth in shipped items. Fintech revenues grew 27.5% to $2.1 billion, supported by a 35.6% increase in total payment volume and 54.8% growth in payment transactions. Brazil remained the largest market, contributing 54.9% of total revenues, followed by Mexico at 23.7%.The company continued investing in its logistics network and technology infrastructure, with capital expenditures of $184 million in Q2. Cash and investments totaled $4.09 billion as of June 30, 2024. MercadoLibre maintained strong operational metrics with 52 million fintech monthly active users and 57 million unique active buyers, demonstrating sustained platform engagement.