Economy & Business - March 2025
REGION: MercadoLibre defies weak regional economies
Latin America’s largest company is not one of the big Brazilian names like Petrobras or Itaú Unibanco, nor Mexico’s América Móvil. It is online retailer MercadoLibre, at least as measured by market capitalisation. While the region’s economy plods along at around 2%, MercadoLibre boosted its revenue by 38% to US$21bn last year. Net profit in the fourth quarter alone was up by a jaw-dropping 287% to US$640m.
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