MercadoLibre-Mercado Libre delivers solid Q3 results posting revenue of $5.3B driven by user and engagement surge across markets and businesses

Core Insights - Mercado Libre reported Q3 2024 net revenue of $5.3 billion, a 35% year-on-year increase, with operational income at$ 557 million, reflecting strategic investments for long-term success [2][8] - The company experienced significant growth in both e-commerce and fintech sectors, driven by increased user engagement and technological investments [3][4] E-commerce Performance - Unique buyers increased by 21% year-on-year to nearly 61 million, with Gross Merchandise Value (GMV) reaching $12.9 billion, a 14% increase in dollars [3][8] - Items sold rose nearly 28% to 456 million units, with over 94% of shipments managed by Mercado Libre's network, and 75% of deliveries completed in less than 48 hours [8] - Mercado Ads revenue grew by 37% year-on-year, contributing to the overall growth in the commerce segment [8] Fintech Performance - Mercado Pago's net revenue reached$ 2.2 billion in Q3, with total payment volume (TPV) increasing by 34% year-on-year to $50.7 billion [9] - Monthly active users for Mercado Pago expanded by 35% to 56 million, with total payment transactions rising by 47% to over 2.9 billion [9] - The credit portfolio for Mercado Pago grew by 77% year-on-year to$ 6 billion, while the credit card portfolio surged by 172% to $2.3 billion [7][9] Strategic Developments - The company opened five fulfillment centers in Brazil and one in Mexico during Q3, enhancing logistics capabilities and delivery speeds [5][8] - Mercado Libre's sponsorship of the Williams Racing F1 team aligns with its values of innovation and speed, further promoting its brand in the region [8]