MercadoLibre(MELI.US), a Latin American e-commerce platform, reported a 37% YoY growth in Q4 sales, topping expectations, and its buyer count surpassed 100mn for the first time.

Latin American e-commerce platform MercadoLibre (MELI.US) reported fourth-quarter results that exceeded expectations. All metrics, including active buyers, gross merchandise volume, and payment volume, grew, leading to a 37.4% increase in total sales.

According to the earnings report, MercadoLibre's fourth-quarter sales were US$6.06 billion, up 37.4% YoY, US$120 million higher than the market's expectations; and earnings per share were US$12.61, US$5.05 higher than expectations.

Total payments reached US$58.9 billion, up 33% YoY; GMV grew 8% YoY, and grew 56% YoY excluding foreign exchange effects.

The company said in a statement: "Mercado Libre has had another fruitful year in 2024, with more consumers and merchants choosing us, marking our first milestone of surpassing 100 million independent buyers and 60 million fintech monthly active users."

MercadoLibre ("Free Market") is an Argentine e-commerce and payment platform registered in Delaware, trading on the Nasdaq market. The company was founded by CEO Marcos Gaplerin during the peak of the internet bubble 25 years ago. According to eMarketer, it currently dominates online sales in Brazil, Argentina, Mexico, and Chile, accounting for about half of online sales in South America. It also operates a digital payment platform called Mercado Pago.