Mercado Libre (NASDAQ: MELI) posted robustfirst-quarter results for 2025, with net revenue and financial income climbing 37% y/y to $5.9bn, according to a company press release seen by IntelliNews. The Latin American e-commerce and fintech giant reported a 45% increase in income from operations to $763mn, while net income surged 44% to $494mn.

Argentina emerged as the standout market for the quarter, with Gross Merchandise Value (GMV) soaring 126% y/y on a foreign-exchange neutral basis, significantly outpacing the company's overall GMV growth of 40%. Sales in Argentina grew 52% y/y, while total payment volume in the country skyrocketed by 144%.

"We have seen improvements on our platforms (in Argentina) in the last few quarters and they continued in the first quarter," CFO Martin de los Santos told Reuters.

"Mercado Libre started 2025 with exceptional momentum, driven by strong operational performance across both commerce and fintech," the CFO continued. “Our outstanding financial performance in Q1 is clear evidence that our strategic investments are delivering results and further strengthening our leadership in commerce and fintech across the region.”

These impressive results underscore Mercado Libre's resilient business model amid Latin America's variable economic conditions. The company's particularly strong performance in Argentina indicates it has successfully navigated the country's complex macroeconomic environment, particularly as economic liberalisation measures under President Milei's administration take shape. As regional e-commerce adoption continues to accelerate, Mercado Libre's sustained growth trajectory suggests the digital transformation of Latin American retail and financial services still has substantial runway ahead, particularly in Argentina, where the country’s economy continues its recovery amid cooling inflation and a new flow of funds from the IMF.