MercadoLibre Reports Mixed Q4 Results Amid Tax Challenges

The e-commerce giant faced a significant earnings miss due to one-off tax expenses in Brazil, despite achieving higher-than-expected sales.

MercadoLibre's Q4 earnings were impacted by one-off tax expenses in Brazil, leading to a significant miss in earnings expectations.
Despite the earnings miss, the company reported a 42% year-over-year increase in revenue, with sales reaching $4.3 billion.
The company's fintech arm saw a 57% increase in payment volume, handling $56.5 billion in the December quarter.
MercadoLibre added almost 50,000 new advertisers to its Ads platform in 2023, highlighting its growing ecosystem.
Shares of MercadoLibre fell 8% in after-hours trading following the earnings report.