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Sep 30, 2025
MercadoLibre Q3 2025 Earnings Report
MercadoLibre delivered strong results in Q3 2025 with continued revenue growth, solid profitability, and record-setting user and buyer activity.
Key Takeaways
MercadoLibre posted another robust quarter, with $7.41B in revenue and $421M in net income. Its fintech and commerce businesses showed strong momentum, especially in Brazil and Mexico. Unique buyers surged, particularly in Brazil, and fintech user metrics continued to climb.
Net revenue reached $7.41 billion, up from $5.31 billion a year ago.
Net income grew to $421 million despite FX headwinds in Argentina.
Unique active buyers hit 77 million, with record growth in Brazil.
Total Payment Volume (TPV) soared to over $71 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
MercadoLibre remains confident in its long-term growth strategy and continues investing heavily in logistics, credit, and fintech to expand market share, though short-term margins may see pressure.
Positive Outlook
- Strong momentum in Brazil and Mexico’s ecommerce and fintech segments.
- Significant user growth, especially in credit cards and MELI+.
- Improved fulfillment speed and cost efficiency in logistics.
- High NPS across Brazil and Mexico’s fintech business.
- Robust growth in digital advertising revenue and social commerce.
Challenges Ahead
- FX losses due to Argentine Peso depreciation impacting profitability.
- Higher tax rate from non-deductible FX losses in Argentina.
- Free shipping investments reducing shipping revenue and margins.
- Increased provisioning for credit and marketing costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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