The company's net profit was affected by two one-off taxes provisions in Brazil totaling $351 million but excluding these, the net profit would have been $383 million.

MercadoLibre saw a 42% year-on-year increase in quarterly net revenues, totaling $4.26 billion. Income from operations, excluding the one-offs, rose to $572 million from $322 million in the previous year. Sales in Brazil, the company's largest market, increased by 35% measured by gross merchandise volume, with analysts projecting net revenues of $4.12 billion.

MercadoLibre's fintech arm, Mercado Pago, also experienced growth with net revenues increasing by 34%. Brazil contributed more than half of the company's net revenues, with Argentina and Mexico each contributing around a fifth. Despite strong growth over the quarters, there are concerns among analysts about the company's ability to sustain growth while maintaining profitability, especially with factors like seasonal margin compression in the fourth quarter due to increased promotional spending.