MercadoLibre Q1 2024 Earnings Report
Key Takeaways
MercadoLibre reported a strong first quarter in 2024, marked by substantial growth in both its Commerce and Fintech segments. The company's net revenue reached $4.3 billion, representing a 36% year-over-year increase. Net income also saw a significant rise, up 71% year-over-year to $344 million. These results were primarily fueled by strong performances in Brazil and Mexico.
Revenue reached $4.3 billion, a 36% increase year-over-year.
Total Payment Volume was $40.7 billion, up 35% year-over-year.
Gross Merchandise Volume reached $11.4 billion, a 20% increase year-over-year.
Net income increased by 71% year-over-year, reaching $344 million.
MercadoLibre
MercadoLibre
MercadoLibre Revenue by Geographic Location
Forward Guidance
Mercado Libre is optimistic about its growth potential and long-term profitability, aiming to capture secular growth opportunities through technology investments and innovation.
Positive Outlook
- Plenty of opportunity for more buyers.
- More frequency of purchase expected.
- More retail to shift online.
- Substantial demand for better and simpler financial services.
- Trend of digitalization of cash is expected to continue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income