MercadoLibre reported year-over-year revenue growth of 37% through the first three quarters of 2025, driven by robust performance across its e-commerce and fintech segments. Gross merchandise volume on its marketplace rose 33%, while payment volumes processed by Mercado Pago jumped 48%, fueled by a 22% increase in active buyer accounts. The company’s logistics unit handled 290 million shipments, up 40%, reflecting continued expansion of its proprietary delivery network in Brazil, Mexico and Argentina.

Mercado Pago now serves 72 million monthly active users, an increase of 18% year over year. Its credit portfolio grew 83% through September, though provisions for doubtful accounts rose 58% in the first nine months of 2025. Despite higher credit costs, fintech segment revenue climbed 45%, contributing more than one-third of total company revenue. Investments in digital wallet features and point-of-sale integrations have enhanced transaction frequency, with average monthly transactions per active user increasing by 14%.

The shares currently trade at a forward P/E of 52, approximately 68% premium to the S&P 500 average of 31, reflecting investor willingness to pay for sustained high growth. Net income rose 13% to $1.4 billion in the first nine months of 2025, while adjusted EBITDA margin improved by 120 basis points to 17.3%. With macroeconomic conditions in key markets like Argentina and Venezuela showing early signs of stabilization and regulatory tailwinds for digital payments, analysts forecast total revenue growth of 35–40% for full-year 2026, supporting upside potential in the stock.