MercadoLibre

The business exhibits recurring usage across commerce, payments and credit with multi‑year share gains in core geographies.

TTM revenue rose to roughly 24.1 billion dollars with TTM EBIT margins ~12%, and both commerce and fintech delivered strong FX‑neutral growth in H1’25. Predictability is moderated by LatAm macro/FX swings (notably Argentina), regulatory developments and the credit cycle as the card portfolio scales.

Still, the toll‑like features of acquiring, ads and logistics and MELI’s multi‑country footprint improve overall durability.