MercadoLibre (MELI) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and MercadoLibre published the results on November 4, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• MercadoLibre's top line is "net revenues and financial income", which includes interest and fees on its credit portfolio. Its reporting segments are countries (Brazil, Mexico, Argentina and Other Countries); the Commerce and Fintech split above is the disaggregation in its 10-Q.
• MercadoLibre reports in U.S. dollars but earns most revenue in Brazilian reais, Mexican pesos and Argentine pesos, so it also gives FX-neutral growth: 41% in Q3 2026 against 45% in dollars.

Source: MercadoLibre Q3 2026 letter to shareholders, November 4, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How MercadoLibre splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• MercadoLibre's Commerce revenue was $6.1 billion in Q3 2026, up 47% from $4.2 billion in Q3 2025, 57% of total revenue.
• MercadoLibre's Fintech revenue was $4.6 billion in Q3 2026, up 42% from $3.2 billion in Q3 2025, 43% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net revenues and financial income and GAAP diluted EPS, each as first reported in that quarter's letter to shareholders.

We do not hold a confirmed date for MercadoLibre's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 4, 2026

MercadoLibre's net revenues and financial income were $10,750 million in Q3 2026, up 45% from $7,409 million, and up 41% on an FX-neutral basis. Commerce brought in $6,141 million, of which $4,613 million was commerce services (seller fees and related shipping and storage fees, classifieds, advertising and membership subscriptions) and $1,528 million was commerce product sales, which are inventory sales and related shipping fees. Fintech brought in $4,609 million, including $2,420 million of credit revenues and $2,172 million of financial services and income. (MercadoLibre Form 10-Q, Q3 2026, Nov 5, 2026; MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026)

MercadoLibre reports its segments by country. Brazil was $6,001 million of the quarter's revenue, Mexico $2,429 million, Argentina $1,818 million and Other Countries $502 million. In dollars Brazil grew 50% and Mexico 47%, helped by currency, while Argentina grew 26% with currency acting as a headwind; FX-neutral growth was 41% in Brazil, 36% in Mexico and 42% in Argentina. (MercadoLibre Form 10-Q, Q3 2026, Nov 5, 2026; MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026)

MercadoLibre's gross merchandise volume was $22,818 million, up 38%, on 867 million items sold, and total payment volume was $108,801 million, up 53%. Fintech monthly active users reached 93 million, up 29%. The letter ties Brazil's growth to the lower free shipping threshold, with items per buyer in Brazil up 16% in Q3 2026. (MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026)

MercadoLibre's credit revenues rose to $2,420 million from $1,535 million. The credit portfolio reached almost $18bn, up 62%, with credit cards at 47% of it against 44% a year earlier. NIMAL (net interest margin after losses, which nets funding costs and provisions against credit revenues) was 20.1% against 21.0%, and the 15 to 90 day NPL ratio was 7.0%. The provision for doubtful accounts rose to $1,342 million from $815 million. (MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026; MercadoLibre Form 10-Q, Q3 2026, Nov 5, 2026)

MercadoLibre reports no adjusted EPS. GAAP diluted EPS was $8.83 in Q3 2026 against $8.32, on net income of $448 million, up 6%. Income from operations fell to $676 million from $724 million, a 6.3% margin, which the letter attributes to more free shipping, new fulfillment capacity added ahead of peak season and higher affiliate marketing spend in Brazil. (MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Two lines below operating income lifted MercadoLibre's net income. Foreign currency losses were $72 million against $102 million, and the effective tax rate fell to 25.5% from 33.8%, which the 10-Q attributes mainly to higher non-taxable gains from tax benefits and greater deductions from permanent differences in Brazil. (MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026; MercadoLibre Form 10-Q, Q3 2026, Nov 5, 2026)

MercadoLibre's share count barely moves: diluted weighted average shares were 50,697,106 in the quarter against 50,697,284 a year earlier, so EPS tracks net income almost one for one. (MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

MercadoLibre does not publish a revenue or earnings outlook in its letter to shareholders. The Q3 2026 letter describes the margin cost of its investment in free shipping and fulfillment capacity, and the company held a conference call and webcast for investor questions on November 4, 2026. (MercadoLibre Q3 2026 letter to shareholders (Form 8-K, Exhibit 99.1), Nov 4, 2026)

A consensus figure is the average of the models published by the analysts who cover MercadoLibre, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones MercadoLibre's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MELI is on is MELI a buy or a sell?, what analysts expect next is on the MELI forecast, and what the company does is on the MercadoLibre (MELI) stock page.

Every number on this page can be traced to a document MercadoLibre published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.