MELI Q1 2025 Earnings
Reported May 7, 2025 at 4:01 PM ET · SEC Source
Q1 25 EPS
$9.74
BEAT +17.76%
Est. $8.27
Q1 25 Revenue
$5.94B
BEAT +7.49%
Est. $5.52B
vs S&P Since Q1 25
-52.2%
TRAILING MARKET
MELI -24.6% vs S&P +27.5%
Market Reaction
Did MELI Beat Earnings? Q1 2025 Results
MercadoLibre kicked off 2025 with a standout quarter, posting earnings per share of $9.74 against a consensus estimate of $8.27, a beat of 17.76%, while revenue of $5.93 billion topped expectations by 7.49% and surged 37.0% year-over-year. The Latin … Read more MercadoLibre kicked off 2025 with a standout quarter, posting earnings per share of $9.74 against a consensus estimate of $8.27, a beat of 17.76%, while revenue of $5.93 billion topped expectations by 7.49% and surged 37.0% year-over-year. The Latin American e-commerce and fintech giant's results were propelled by exceptional strength in Argentina, where FX-neutral revenue climbed 184% year-over-year as a stabilizing macro environment unleashed pent-up consumer demand, helping lift the operating margin to 12.9% on income from operations of $763 million. Commerce and fintech scaled in tandem, with gross merchandise volume reaching $13.33 billion and total payment volume hitting $58.30 billion, while the credit portfolio expanded 75% year-over-year to $7.80 billion. Looking ahead, management emphasized that physical stores still represent roughly 85% of retail spending in Latin America and that MercadoLibre holds less than 5% of the region's total retail market, signaling substantial runway as the company plans continued reinvestment across logistics, advertising, and credit expansion.
Key Takeaways
- • 25% YoY growth in unique active buyers to 67 million
- • Argentina's exceptional recovery with 126% FX-neutral GMV growth and 184% FX-neutral revenue growth
- • Fintech MAUs grew 31% YoY to 64 million
- • Credit portfolio grew 75% YoY to $7.8 billion
- • Total payment volume grew 43% YoY to $58.3 billion
- • Fulfillment penetration surpassed 60% in Brazil for the first time
- • Cost per fulfillment order declining YoY in local currency in Brazil, Mexico and Chile
- • Advertising revenue grew 50% YoY on FX-neutral basis
- • Supermarket items sold grew 65% YoY, fastest across all categories
MELI YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
MELI Revenue by Segment
Business unit performance breakdown
MELI Revenue by Geography
With YoY comparisons, source: SEC Filings
MELI Earnings Trends
MELI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MELI EPS Trend
Earnings per share: estimate vs actual
MELI Revenue Trend
Quarterly revenue: estimate vs actual
MELI Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $11.85 | $11.03 | -6.92% | $8.76B | +3.20% |
| FY Full Year | $39.98 | $39.40 | -1.46% | $28.89B | +0.95% |
| Q3 25 MISS | $9.30 | $8.32 | -10.51% | $7.41B | +2.81% |
| Q2 25 MISS | $11.89 | $10.31 | -13.26% | $6.79B | +1.90% |
| Q1 25 BEAT | $8.27 | $9.74 | +17.76% | $5.94B | +7.49% |