Leandro Cuccioli

We have a very solid business and we've had a solid business in periods of high inflation, of low inflation, etc.

Because as long as you have great price, great convenience, the fastest shipping, people will buy from you.

Yeah, you're right.

We think we are the only company in the world that has sustained 27 consecutive quarters of revenue growth, about 30%, in this case 39% for the third quarter of 2025.

And I think it's testament to the big opportunity that we see in the region, right, that probably you have discussed with us in the past.

You know, when you look at Brazil or Mexico or Argentina, our three main geographies,

you see GMB or, you know, the gross volume of merchandise transacting our platform growing well above 30%, right?

Ship items growing at more than 42% in Brazil.

So that means that a lot of people are still coming online to buy, sometimes for the first time.

You know, in Brazil, we had 29% growth in unique buyers, right?

So that's, you know, at the scale of MercadoLibre with more than 100 million

unique buyers in the last 12 months is quite unique, I think, in the world to have 29% more folks coming to buy online.

And the same can be said on the fintech side, because it's a region that unfortunately in the past hadn't had the access to financial services that probably in developed markets people are used to now, right?

Here in Mexico, 15% of the people have a credit card.

It's insane, right?

Only 15%.

So that explains why Mercado Pago, our fintech side of the business, continues to grow also users at a clip of around 30%, reaching 72 million monthly active users.

And that's payments, savings...

credit and everything that you need for a modern life right so we're very excited um you know about the third quarter but moreover we're very excited about the opportunity ahead

Look, I mean, time will tell, right?