MercadoLibre, Inc. (MELI) achieved significant growth in its gross merchandise volume (GMV) during Q1 2026, reaching $19 billion. This marks a 42% year-over-year increase in U.S. dollars and a 36% increase on a foreign-exchange-neutral basis. The total items sold rose to 721.7 million units, reflecting a 47% year-over-year increase.
Brazil, the company’s largest market, reported a 38% year-over-year GMV growth on a foreign-exchange-neutral basis, with items sold increasing by 56% and unique buyers growing by 32%. Mexico also demonstrated a 28% growth, while Argentina and Chile recorded 41% and 40% growth, respectively. These results indicate ongoing market share gains within the e-commerce sector across Latin America.
Despite this growth, MercadoLibre’s shares have fallen 18.7% in the past six months, compared to a 3% decline in the industry. The Zacks Consensus Estimate forecasts a 39.7% rise in sales and 4.1% increase in earnings for the current financial year.
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