Prediction: MercadoLibre Will Join Amazon, Walmart, and Costco in the $100 Billion Revenue Club by 2029
Analysts don't see MercadoLibre hitting $100 billion in revenue until 2030, but there's a problem with that forecast.
Overview
The race for round numbers has taken MercadoLibre (NASDAQ: MELI) to some great heights over the years. The Latin American e-commerce and fintech leader wasn't always a juggernaut. It topped $1 billion in annual sales for the first time in 2017. MercadoLibre cleared the $10 billion hurdle in 2022.
Growing its business tenfold -- or, in this case, nearly tenfold, as it went from $1.2 billion in 2017 to $10.8 billion -- in five years is impressive. It's not likely to take just five years to grow its business tenfold again. That would mean MercadoLibre hits the $100 billion mark next year, and no one expects that to happen so soon.
Details
A more realistic yet still aggressive forecast would be for MercadoLibre to reach a $100 billion market cap by 2029. It would be in elite company when it gets there. Amazon (NASDAQ: AMZN), Walmart (NASDAQ: WMT), and Costco (NASDAQ: COST) are among the 42 U.S. exchange-listed companies with trailing net revenue in the 12 figures.
Source
Originally published at www.fool.com.