A divorce of sorts For the quarter, MercadoLibre reported net revenue of $437 million, up 70.5% year over year in U.S. dollars (USD) and 99.6% in local currencies. Gross merchandise volume (GMV) grew to $3.62 billion, up 63% year over year in USD and 132% in local currencies. For a number of years, e-commerce platform MercadoLibre, Inc. (NASDAQ: MELI) was plagued by fears of hyperinflation, political unrest, and economic turmoil in its native Latin America.