Description

MercadoLibre’s AI Search Push: Can Large Language Models Lift Commerce And Ads?

MercadoLibre reported robust results for the first quarter of 2026, driven by strategic investments that contributed to its highest revenue growth rate since mid-2022. Net revenue rose 49% year-over-year, supported notably by efforts in Brazil, where the company lowered the free shipping threshold, increasing buyer engagement and volume. Brazil’s gross merchandise volume (GMV) grew 38% year-over-year with a 56% rise in items sold, reflecting accelerated growth post pricing adjustments. The company highlighted improvements in unit economics, including a 17% decrease in cost per shipment in local currency due to scale and operational efficiency. Other Latin American markets such as Mexico, Argentina, and Chile also recorded healthy GMV growth ranging from 28% to 41%, helped by enhanced logistics and expanded free shipping. On the fintech side, MercadoLibre continued to expand its footprint with Mercado Pago monthly active users increasing 29% year-over-year.