MercadoLibre, Inc.: Expansion of Fintech Offerings, The Growth Story In Mexico & Brazil 

MercadoLibre recently reported its earnings for Q1 of 2024. The company has continued its robust trend, with Brazil and Mexico being their primary growth engines. Both markets recorded growth in Gross Merchandise Value (GMV) of approximately 30% YoY. This expansion was propelled by their strategic investments in tech infrastructure, targeted marketing campaigns, and focus on enhancing user experience. Their advertising segment also saw growth, achieving regular levels of GMV penetration in all markets. Their fintech service Mercado Pago also observed good progress in Mexico and Brazil, with the number of credit card issued swelling to 1.5 million during the quarter and the Total Payment Value reaching $1.9 billion. However, the macroeconomic conditions in Argentina impacted the overall performance, with weak demand and peso devaluation factors.