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SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Financial Performance of Company's Reporting Segments

The following tables summarize the financial performance of the Company’s reporting segments:

			Three Months Ended March 31, 2025
			Brazil						Mexico						Argentina						Other Countries						Total
			(In millions)
Net service revenues and financial income			$	2,673					$	1,107					$	1,313					$	227					$	5,320
Net product revenues			409						115						69						22						615
Net revenues and financial income			3,082						1,222						1,382						249						5,935
Local operating expenses			(2,457)						(960)						(714)						(193)						(4,324)
Depreciation and amortization			(83)						(45)						(20)						(11)						(159)
Total segment costs			(2,540)						(1,005)						(734)						(204)						(4,483)
Direct contribution			542						217						648						45						1,452
Operating expenses and indirect costs of net revenues and financial expenses																											(689)
Income from operations																											763
Other income (expenses):
Interest income and other financial gains																											37
Interest expense and other financial losses																											(39)
Foreign currency losses, net																											(55)
Net income before income tax expense																											$	706

			Three Months Ended March 31, 2024
			Brazil						Mexico						Argentina						Other Countries						Total
			(In millions)
Net service revenues and financial income			$	2,316					$	886					$	590					$	163					$	3,955
Net product revenues			255						85						25						13						378
Net revenues and financial income			2,571						971						615						176						4,333
Local operating expenses			(1,937)						(703)						(374)						(145)						(3,159)
Depreciation and amortization			(73)						(44)						(17)						(10)						(144)
Total segment costs			(2,010)						(747)						(391)						(155)						(3,303)
Direct contribution			561						224						224						21						1,030
Operating expenses and indirect costs of net revenues and financial expenses																											(502)
Income from operations																											528
Other income (expenses):
Interest income and other financial gains																											25
Interest expense and other financial losses																											(38)
Foreign currency losses, net																											(34)
Net income before income tax expense																											$	481

Consolidated Net Revenues by Similar Products and Services

The following table summarizes net revenues and financial income per reporting segment, which have been disaggregated by similar products and services for the three-month periods ended March 31, 2025 and 2024:

			Three Months Ended March 31,
			Brazil									Mexico									Argentina									Other Countries (6)									Total
			2025			2024						2025			2024						2025			2024						2025			2024						2025			2024
			(In millions)
Commerce services (1)			$	1,471		$	1,313					$	667		$	531					$	406		$	176					$	157		$	108					$	2,701		$	2,128
Commerce product sales (2)			402			250						111			82						68			24						21			12						602			368
Total commerce revenues			1,873			1,563						778			613						474			200						178			120						3,303			2,496
Financial services and income (3)			606			587						166			123						634			295						67			52						1,473			1,057
Credit revenues (4)			596			416						274			232						273			119						3			3						1,146			770
Fintech product sales (5)			7			5						4			3						1			1						1			1						13			10
Total fintech revenues			1,209			1,008						444			358						908			415						71			56						2,632			1,837
Total net revenues and financial income			$	3,082		$	2,571					$	1,222		$	971					$	1,382		$	615					$	249		$	176					$	5,935		$	4,333

(1) Includes final value fees and flat fees paid by sellers derived from intermediation services and related shipping and storage fees, classified fees derived from classified advertising services and ad sales.

(2) Includes revenues from inventory sales and related shipping fees.

(3) Includes revenues from commissions the Company charges for transactions off-platform derived from use of the Company’s payment solution and asset management product, revenues as a result of offering installments for the payment to its Mercado Pago users, either when the Company finances the transactions directly or when the Company sells the corresponding financial assets, interest earned on cash and investments as part of Mercado Pago activities, including those required due to fintech regulations, net of interest gains pass through our Brazilian users in connection with our asset management product, Mercado Pago debit card commissions and insurtech fees.

(4) Includes interest earned on loans and advances granted to merchants and consumers, and interest and commissions earned on Mercado Pago credit card transactions.

(5) Includes sales of mobile point of sales devices.

(6) Revenues from external customers in the U.S. amounted to $10 million and $3 million for the three-month periods ended March 31, 2025 and 2024, respectively.

Allocation of Property and Equipment Based on Geography

The following table summarizes the allocation of property and equipment, net based on geography:

			March 31, 2025
			Brazil						Mexico						Argentina						U.S.						Other countries						Total
			(In millions)
Property and equipment			$	1,154					$	803					$	459					$	10					$	192					$	2,618
Accumulated depreciation			(481)						(263)						(209)						(7)						(95)						(1,055)
Total property and equipment, net			$	673					$	540					$	250					$	3					$	97					$	1,563

			December 31, 2024
			Brazil						Mexico						Argentina						U.S.						Other countries						Total
			(In millions)
Property and equipment			$	1,078					$	713					$	434					$	10					$	178					$	2,413
Accumulated depreciation			(497)						(239)						(199)						(6)						(92)						(1,033)
Total property and equipment, net			$	581					$	474					$	235					$	4					$	86					$	1,380

Schedule of Operating Lease Right of Use Assets Based on Geography

The following table summarizes the allocation of the operating lease right-of-use assets based on geography:

			March 31, 2025
			Brazil						Mexico						Argentina						U.S.						Other countries						Total
			(In millions)
Right of use asset			$	768					$	691					$	78					$	4					$	120					$	1,661
Accumulated amortization			(175)						(141)						(38)						(1)						(44)						(399)
Total right of use asset, net			$	593					$	550					$	40					$	3					$	76					$	1,262

			December 31, 2024
			Brazil						Mexico						Argentina						U.S.						Other countries						Total
			(In millions)
Right of use asset			$	618					$	616					$	76					$	4					$	115					$	1,429
Accumulated amortization			(139)						(116)						(36)						(1)						(39)						(331)
Total right of use asset, net			$	479					$	500					$	40					$	3					$	76					$	1,098

Allocation of Goodwill and Intangible Assets Based on Geography

The following table summarizes the allocation of the goodwill and intangible assets based on geography:

			March 31, 2025
			Brazil						Mexico						Argentina						U.S.						Other countries						Total
			(In millions)
Intangible assets at fair value			$	—					$	—					$	—					$	53					$	—					$	53
Goodwill and intangible assets			98						45						23						—						71						237
Accumulated amortization			(7)						(4)						(8)						—						(24)						(43)
Total goodwill and intangible assets, net			$	91					$	41					$	15					$	53					$	47					$	247

			December 31, 2024
			Brazil						Mexico						Argentina						U.S.						Other countries						Total
			(In millions)
Intangible assets at fair value			$	—					$	—					$	—					$	49					$	—					$	49
Goodwill and intangible assets			64						43						23						—						71						201
Accumulated amortization			(6)						(4)						(7)						—						(23)						(40)
Total goodwill and intangible assets, net			$	58					$	39					$	16					$	49					$	48					$	210

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