MercadoLibre (MELI) Q3 2024 Earnings Call Transcript

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In This Article:

MercadoLibre (NASDAQ: MELI)
Q3 2024 Earnings Call
Nov 06, 2024, 5:00 p.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:


Operator

Good evening, and welcome to MercadoLibre's Q3 2024 conference call. [Operator instructions] Please note this event is being recorded. I would now like to turn the conference over to Richard Cathcart, investor relations officer. Please go ahead.

Richard Cathcart -- Investor Relations Officer

Hello, everyone, and welcome to the MercadoLibre earnings conference call for quarter ended September 30, 2024. Thank you for joining us. I'm Richard Cascade, MercadoLibre's investor relations officer. Today, we will share our quarterly highlights on video, after which we will begin our live Q&A session with our management team.

Before we go on to discuss our results for the third quarter of 2024, I'll remind you that management may make or refer to, and this presentation may contain, forward-looking statements and non-GAAP measures. So please refer to the disclaimer on screen, which will be available in our earnings materials on our Investor Relations website. With that, let's begin with the summary of our results.

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Marcos Eduardo Galperin -- Chair, President, and Chief Executive Officer

Hello, everyone. I am pleased to share that MercadoLibre had another quarter outstanding growth. We had an excellent quarter across all of our businesses and geographies. So the strong performance was really all around.

With these results, we reinforced our position as the leading e-commerce and fintech platform in Latin America. Every time we have invested in enhancing our customer experience, in the past, we have been rewarded with strong growth and improvements in our market position. In this quarter, we continue to make strategic investments in our platform, both in commerce and fintech, and that resulted in GMV growth of 34% year on year in Brazil and 27% in Mexico. This also resulted in market share gains in both countries.