MercadoLibre earnings: third quarter 2026

MercadoLibre, the Latin American online shop and payments company, grew sales by 45% to $10.75 billion in the third quarter of 2026, but its profit from running the business fell as it spent heavily on free shipping, delivery capacity and marketing in Brazil. Earnings per share came in below what analysts expected, and the company gave no figures for what it expects next. Management says it is holding margins down on purpose and expects the payoff to arrive only gradually. ¹

Against what analysts expected

Earnings per share of $8.83 came in about 6% below the $9.41 analysts expected on average, according to Nasdaq's earnings calendar. ¹²

The strong points

• Sales rose 45% on a year ago, or 41% once currency swings are removed, with Brazil the strongest market. ¹
• Payments handled through its system grew 53% on a year ago, to $109 billion. ¹

The weak points

• Operating profit, the profit from running the business, fell 6% on a year ago even as sales grew 45%. ¹
• The money set aside for loans that may not be repaid jumped 83% in the first nine months of the year. ¹
• The company's own measure of cash left after lending and investing fell by more than a third in the first nine months, to $443 million. ¹

What the company expects

• MercadoLibre gave no figures for next quarter or the year; management only says it expects the benefit of its investments to show up in margins gradually. ¹
• It expects shipping costs to fall as a share of sales over time, but warns the path will be uneven because new capacity costs money before it fills up. ¹

Our verdict on the quarter

A mixed report. Sales and activity grew very fast, but profit from running the business fell, earnings per share came in about 6% below what analysts expected, and the company offered no figures for the future, only a promise that margins will improve slowly.

The results as published

• The results release itself
• The filing it came with (SEC)
• The previous results, for what it forecast then

Notes

1. MercadoLibre's results release, 4 November 2026: sec.gov. ↩
2. Nasdaq's earnings calendar, 4 November 2026. ↩