Shares of Latin American e-commerce giant MercadoLibre (MELI) surged 11.82% in pre-market trading on Friday, following a blockbuster fourth-quarter earnings report that showcased the company's robust financial and operational performance.

The company reported a staggering 287% year-over-year increase in net income to $639 million, far exceeding analyst expectations of $401.5 million. This remarkable performance was driven by several factors, including lower funding costs, improved logistics efficiency, particularly in Mexico, and reduced currency losses, especially in Argentina.

MercadoLibre's net revenue climbed an impressive 37% year-over-year to $6.1 billion, beating estimates of $5.9 billion. This growth was fueled by an 8% increase in gross merchandise volume, with Brazil, the company's main market, seeing a 32% surge on a foreign exchange-neutral basis.

The company achieved several key milestones, surpassing 100 million unique buyers on its marketplace and reaching 60 million monthly active users on its fintech platform. Additionally, it issued 5.9 million new credit cards in 2024, doubling its portfolio and solidifying its position as a leading digital bank in Latin America.

MercadoLibre's Chief Financial Officer, Martin de los Santos, emphasized the company's commitment to investing in growth opportunities, stating, "We will not shy away from investing in growth opportunities, as this will enable us to dilute fixed costs in the long term and continue being profitable."