MercadoLibre (MELI) Q4-25 earnings: 3M new credit cards & the great margin sacrifice

MercadoLibre just dropped an explosive Q4 2025 top-line beat, but a steep after-hours selloff reveals Wall Street's anxiety over a hidden tax credit and a massive deliberate margin sacrifice.In ~10 minutes:• How a $99M Brazil tax credit artificially padded operating margins.• Why management is deliberately burning 6 points of short-term profitability.• The hidden strategy behind opening a direct China fulfillment center.• The systemic risk of issuing 3 million new credit cards.Under new CEO Ariel Szarfsztejn, Latin America's e-commerce giant is aggressively ignoring near-term profits to launch a logistics counter-offensive against Asian rivals. By subsidizing cross-border shipping and rapidly scaling its Fintech loan book to $12.5 billion, the company is quietly building a massive regional bank hidden inside a retail monopoly 🏦.MercadoLibre (MELI) | Q4 FY2025AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.