Mercado Libre builds on 2024 momentum with strong Q1 2025 results, reporting $5.9 billion revenue and $494 million net income
Mercado Libre (NASDAQ: MELI) ha riportato risultati solidi nel primo trimestre del 2025, con un fatturato netto in crescita del 37% su base annua, raggiungendo 5,9 miliardi di dollari, e un utile netto aumentato del 44% su base annua a 494 milioni di dollari. Il settore commerciale dell'azienda ha visto un aumento del Valore Lordo della Merce (GMV) del 17% su base annua, arrivando a 13,3 miliardi di dollari, mentre gli acquirenti unici sono cresciuti del 25% su base annua, raggiungendo 67 milioni. Gli articoli venduti sono stati 492 milioni di unità, con un incremento del 28%.
La divisione fintech, Mercado Pago, ha registrato una crescita significativa con utenti attivi mensili che hanno raggiunto 64 milioni, in aumento del 31% su base annua. Il portafoglio crediti è cresciuto del 75% su base annua, arrivando a 7,8 miliardi di dollari, mentre il volume totale dei pagamenti è aumentato del 43% su base annua, toccando 58,3 miliardi di dollari. Gli asset under management sono cresciuti del 103% su base annua, raggiungendo 11,2 miliardi di dollari.
Tra i miglioramenti operativi degni di nota, la spedizione nello stesso giorno o il giorno successivo ha raggiunto il 50% degli ordini, e i ricavi pubblicitari sono cresciuti del 26% su base annua. L'Argentina ha mostrato performance eccezionali con un GMV neutrale rispetto al cambio valutario in aumento del 126% su base annua, mentre Brasile e Messico hanno mantenuto forti tassi di crescita rispettivamente del 30% e del 23%.
Mercado Libre (NASDAQ: MELI) reportó sólidos resultados en el primer trimestre de 2025, con ingresos netos aumentando un 37% interanual hasta 5.9 mil millones de dólares y un ingreso neto que creció un 44% interanual hasta 494 millones de dólares. El negocio de comercio de la compañía vio un crecimiento del Valor Bruto de Mercancía (GMV) del 17% interanual hasta 13.3 mil millones de dólares, mientras que los compradores únicos aumentaron un 25% interanual hasta 67 millones. Los artículos vendidos alcanzaron los 492 millones de unidades, un aumento del 28%.
La división fintech, Mercado Pago, logró un crecimiento significativo con usuarios activos mensuales que alcanzaron 64 millones, un aumento del 31% interanual. La cartera de crédito se expandió un 75% interanual hasta 7.8 mil millones de dólares, mientras que el volumen total de pagos subió un 43% interanual hasta 58.3 mil millones de dólares. Los activos bajo administración crecieron un 103% interanual hasta 11.2 mil millones de dólares.
Entre las mejoras operativas destacadas, los envíos en el mismo día o al día siguiente alcanzaron el 50% de los pedidos, y los ingresos por publicidad crecieron un 26% interanual. Argentina mostró un desempeño excepcional con un GMV neutral al tipo de cambio que se disparó un 126% interanual, mientras que Brasil y México mantuvieron fuertes tasas de crecimiento del 30% y 23%, respectivamente.
Mercado Libre (NASDAQ: MELI)는 2025년 1분기에 강력한 실적을 보고했으며, 순매출은 전년 동기 대비 37% 증가한 59억 달러, 순이익은 전년 동기 대비 44% 증가한 4억 9,400만 달러를 기록했습니다. 회사의 커머스 부문은 총 거래액(GMV)이 전년 대비 17% 증가한 133억 달러를 기록했고, 고유 구매자 수는 전년 대비 25% 증가한 6,700만 명에 달했습니다. 판매된 상품 수는 4억 9,200만 개로 28% 증가했습니다.
핀테크 부문인 Mercado Pago는 월간 활성 사용자 수가 전년 대비 31% 증가한 6,400만 명에 도달하며 큰 성장을 이루었습니다. 신용 포트폴리오는 전년 대비 75% 증가한 78억 달러로 확장되었고, 총 결제 금액은 전년 대비 43% 증가한 583억 달러를 기록했습니다. 운용 자산은 전년 대비 103% 증가한 112억 달러에 달했습니다.
주목할 만한 운영 개선 사항으로는 당일 및 익일 배송이 주문의 50%에 도달했으며, 광고 수익은 전년 대비 26% 증가했습니다. 아르헨티나는 환율 영향을 제외한 GMV가 전년 대비 126% 급증하는 뛰어난 성과를 보였고, 브라질과 멕시코는 각각 30%와 23%의 강한 성장률을 유지했습니다.
Mercado Libre (NASDAQ : MELI) a publié de solides résultats pour le premier trimestre 2025, avec un chiffre d'affaires net en hausse de 37 % en glissement annuel, atteignant 5,9 milliards de dollars, et un bénéfice net en hausse de 44 % en glissement annuel, à 494 millions de dollars. L'activité commerce de l'entreprise a vu la valeur brute des marchandises (GMV) croître de 17 % en glissement annuel, atteignant 13,3 milliards de dollars, tandis que le nombre d'acheteurs uniques a augmenté de 25 % en glissement annuel, atteignant 67 millions. Les articles vendus ont atteint 492 millions d'unités, en hausse de 28 %.
La division fintech, Mercado Pago, a connu une croissance significative avec 64 millions d'utilisateurs actifs mensuels, en hausse de 31 % en glissement annuel. Le portefeuille de crédit s'est étendu de 75 % en glissement annuel, atteignant 7,8 milliards de dollars, tandis que le volume total des paiements a augmenté de 43 % en glissement annuel, atteignant 58,3 milliards de dollars. Les actifs sous gestion ont progressé de 103 % en glissement annuel, atteignant 11,2 milliards de dollars.
Parmi les améliorations opérationnelles notables, les livraisons le jour même ou le lendemain ont atteint 50 % des commandes, et les revenus publicitaires ont augmenté de 26 % en glissement annuel. L'Argentine a affiché une performance exceptionnelle avec un GMV neutre en devises en hausse de 126 % en glissement annuel, tandis que le Brésil et le Mexique ont maintenu de solides taux de croissance de 30 % et 23 % respectivement.
Mercado Libre (NASDAQ: MELI) meldete starke Ergebnisse für das erste Quartal 2025 mit einem Nettoumsatzanstieg von 37 % im Jahresvergleich auf 5,9 Milliarden US-Dollar und einem Nettogewinnanstieg von 44 % im Jahresvergleich auf 494 Millionen US-Dollar. Das Handelsgeschäft des Unternehmens verzeichnete ein Wachstum des Bruttowarenvolumens (GMV) um 17 % im Jahresvergleich auf 13,3 Milliarden US-Dollar, während die Anzahl der einzigartigen Käufer um 25 % auf 67 Millionen stieg. Die verkauften Artikel erreichten 492 Millionen Einheiten, ein Anstieg von 28 %.
Die Fintech-Sparte Mercado Pago erzielte ein signifikantes Wachstum mit monatlich aktiven Nutzern von 64 Millionen, was einem Anstieg von 31 % im Jahresvergleich entspricht. Das Kreditportfolio wuchs um 75 % im Jahresvergleich auf 7,8 Milliarden US-Dollar, während das gesamte Zahlungsvolumen um 43 % auf 58,3 Milliarden US-Dollar zunahm. Die verwalteten Vermögenswerte stiegen um 103 % im Jahresvergleich auf 11,2 Milliarden US-Dollar.
Bemerkenswerte operative Verbesserungen umfassen, dass Same-Day- und Next-Day-Versand 50 % der Bestellungen erreichten, und die Werbeeinnahmen stiegen um 26 % im Jahresvergleich. Argentinien zeigte eine außergewöhnliche Leistung mit einem FX-neutralen GMV-Anstieg von 126 % im Jahresvergleich, während Brasilien und Mexiko starke Wachstumsraten von 30 % bzw. 23 % beibehielten.
- Net revenue increased 37% YoY to $5.9 billion with net income up 44% YoY to $494 million
- Strong user growth with commerce unique buyers up 25% YoY to 67 million and fintech users up 31% YoY to 64 million
- Credit portfolio grew 75% YoY to $7.8 billion with stable NPL ratio of 8.2%
- Assets under management increased 103% YoY to $11.2 billion
- Operational efficiency improvements leading to reduced fulfillment costs in Brazil, Mexico and Chile
- Exceptional growth in Argentina with 126% FX-neutral GMV growth
- Physical retail still dominates with 85% of Latin American retail spend
- Currency exchange impacts affecting dollar-denominated growth rates across markets
Insights
MELI delivers exceptional growth across all metrics with fintech outpacing commerce, demonstrating powerful ecosystem synergies and increasing monetization.
Mercado Libre has delivered a remarkably strong Q1 with revenue surging
The e-commerce segment posted
The fintech business is emerging as the company's growth engine, with revenue up
Argentina delivered extraordinary performance with FX-neutral GMV growing
The logistical improvements are creating a virtuous cycle of better customer experience and lower operational costs, with same-day and next-day shipping now reaching
The expanding advertising business and launch of Mercado Play on 70+ million Smart TVs opens new high-margin revenue streams that leverage MELI's existing user base and first-party data. This diversification beyond traditional e-commerce and payments positions the company as a comprehensive digital ecosystem rather than just a marketplace.
Montevideo, Uruguay. May 7, 2025, May 07, 2025 (GLOBE NEWSWIRE) --
- Unique buyers in commerce reached almost 67 million in the first quarter, with new buyers sustaining the highest level of growth since early 2021, and fintech monthly active users crossed 64 million in the first quarter, growing
31% YoY. - Commerce value prop strengthens as brand preference reaches all-time highs in key markets and Fintech is seeing rising engagement.
- Argentina was the highlight of the quarter, capturing strong growth in GMV, TPV, credit and AUM given the strength of our competitive position and brand amid macro stabilization.
Montevideo, Uruguay. May 7, 2025 — Mercado Libre (NASDAQ: MELI), the leading e-commerce and fintech platform in Latin America, kicked off the year with strong momentum, reporting solid results for the first quarter of 2025, boosted by continued strategic investments and ever improving value proposition. Net revenue and financial income increased
Mercado Libre’s commerce business continues to strengthen as brand preference reached all-time highs in key markets, including Brazil, Mexico, Argentina, and Chile. This is helping to take share from physical commerce, which still accounts for approximately
Argentina’s performance was spectacular, with FX-neutral GMV surging
In logistics, our growing scale and sharp focus on efficiency and productivity initiatives are reducing costs. This led to a YoY decline in cost per fulfillment order in local currency in Brazil, Mexico and Chile.These improvements are fueling continued investment in key initiatives like free shipping. The company also expanded its advertising inventory by launching the Mercado Play app on TVs at the end of Q1 2025. The app is now available to download on more than 70 million Smart TVs across the region delivering over 15,000 hours of free content across mobile and TV platforms. Advertising revenue increased
In fintech, Mercado Pago monthly active users reached 64 million in the first quarter, a
Merchant acquiring continued to see rapid payment volume growth, with acquiring total payment volume (TPV) rising close to
“Mercado Libre started 2025 with exceptional momentum, driven by strong operational performance across both commerce and fintech. This quarter highlights our continued commitment to sustainable, profitable growth as we capture the many opportunities ahead. We remain a key force in accelerating the shift from traditional retail to e-commerce, supported by ongoing investments aimed at delivering a seamless user experience. Engagement in Mercado Pago remains robust, with strong growth in assets under management and our credit portfolio. Our outstanding financial performance in Q1 is clear evidence that our strategic investments are delivering results and further strengthening our leadership in commerce and fintech across the region.” said Mercado Libre CFO Martin de los Santos.
Highlights for Q1 2025
Financial:
- Net revenue of
$5.9 billion , rising37% YoY in dollars. - Income from operations reached
$763 million , a12.9% margin. - Net income reached
$494 million , a8.3% margin.
Commerce:
- Net revenue from the commerce business in the first quarter grew
32% in dollars YoY, reaching$3.3 billion ,59% FXN growth. - Gross Merchandise Value (GMV), the total value of merchandise sold on our platform, rose
17% in dollars YoY to reach$13.3 billion , with a40% FXN growth. - Unique buyers across the region rose
25% YoY to almost 67 million. - Items sold rose
28% this quarter, reaching 492 million units. - Same and next day shipping reaching
50% and shipping in less than 48h reaching74% . - Advertising revenue from Mercado Ads, the digital advertising business grew
26% YoY (50% FXN) in Q1'25.
Fintech:
- Net revenue from Mercado Pago in the first quarter grew
43% in dollars YoY, reaching$2.6 billion ,72% FXN growth. - Total payment volume (TPV) rose
43% YoY in dollars to reach$58.3 billion . - Monthly active users rose over
31% to reach 64 million. - Assets under management grew 103% YoY reaching
$11.2 billion . - Credit portfolio grew
75% YoY to$7.8 billion in the first quarter. - Mercado Pago's credit card portfolio has increased an impressive
111% YoY, reaching$3.2 billion. - Acquiring TPV, which represents all payments processed and settled via Mercado Pago, both on the marketplace and outside of it (MPOS devices, online payments and QR codes), grew
32% in dollars YoY to reach$40.3 billion . - Total payment transactions (TPN) in the first quarter increased by
38% YoY, reaching over 3.3 billion.
| About Mercado Libre Founded in 1999, MercadoLibre, Inc (NASDAQ: MELI) is the leading company in e-commerce and financial technology in Latin America, with operations in 18 countries. It offers a complete ecosystem of solutions for individuals and businesses to buy, sell, advertise, obtain credit and insurance, collect, send money, save, and pay for goods and services both online and offline. Mercado Libre looks to facilitate access to commerce and financial services in Latin America, a market that offers great opportunities and high growth potential. It uses world-class technology to create intuitive solutions tailored to the local culture to transform the lives of millions of people in the region. More information at http://investor.mercadolibre.com/ |
Janelle Laignelet jlaignelet@milltownpartners.com
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