MercadoLibre’s core operations in e-commerce, fintech and logistics posted revenue growth of 37% in the first three quarters of 2025, while net income reached $1.4 billion, up 13% year-over-year despite a 58% rise in provisions for doubtful accounts. The stock trades at a roughly 20% discount from its 52-week high, reflecting investor concerns over competition and credit quality. However, improving economic conditions in Argentina and Venezuela, combined with accelerating digital adoption across underbanked populations, could drive revenue momentum into 2026. At a trailing P/E of 52—well above the S&P 500 average but in line with growth peers—any positive surprise in loan performance or user expansion may prompt multiple expansion and share-price recovery.

In the fourth quarter, Pictet North America Advisors SA acquired 2,703 additional shares of MercadoLibre, raising its total holdings to 9,342 shares. The estimated investment of $5.68 million increased the position’s quarter-end value by $3.30 million, representing 1.79% of the fund’s U.S. equity AUM. This transaction highlights confidence in MercadoLibre’s long-term ecosystem play, which generated $7.4 billion in quarterly revenue (up 39% year-over-year) and $421 million in net income in its latest report. Total payment volume climbed to $71.2 billion, fintech monthly active users reached 72 million, and credit portfolios expanded to $11 billion without asset-quality deterioration. For investors, Pictet’s move signals that scale and integrated services remain key drivers in Latin America’s digital markets.