Mercado Libre builds on 2024 momentum with strong Q1 2025 results, reporting $5.9 billion revenue and $494 million net income

Financial Performance - Mercado Libre reported net revenue of $5.9 billion for Q1 2025, a 37% year-over-year increase [12] - Income from operations reached $763 million, representing a 12.9% margin [12] - Net income for the quarter was $494 million, with an 8.3% margin [12] Commerce Business - The commerce segment's net revenue grew 32% year-over-year to $3.3 billion, with 59% FX-neutral growth [12] - Gross Merchandise Value (GMV) increased 17% year-over-year to $13.3 billion, with 40% FX-neutral growth [12] - Unique buyers rose 25% year-over-year to almost 67 million, and items sold increased by 28% to 492 million units [12][8] Regional Performance - Argentina's FX-neutral GMV surged 126% year-over-year, with items sold growing 52% [3] - Brazil and Mexico also saw strong FX-neutral GMV growth of 30% and 23%, respectively [3] - Supermarket items sold grew 65% year-over-year, outpacing other categories [3] Logistics and Advertising - Cost per fulfillment order declined year-over-year in local currency across Brazil, Mexico, and Chile, enhancing efficiency [4] - Advertising revenue increased 26% year-over-year (50% FX-neutral), leveraging first-party data [4] Fintech Performance - Mercado Pago's monthly active users reached 64 million, a 31% year-over-year increase [5][8] - The credit portfolio expanded 75% year-over-year to $7.8 billion, with non-performing loans remaining stable [5] - Total payment volume (TPV) rose 43% year-over-year to $58.3 billion, with acquiring TPV growing 32% year-over-year to $40.3 billion [12]