Share MercadoLibre (MELI) Q3 2026 Earnings Review: growth spending squeezes profit margins
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Earnings results
MercadoLibreMELI · Internet Retail
MELI · November 4, 2026After close · Since the same-day regular close
-6.78%Session snapshot

MercadoLibre (MELI) Q3 2026 Earnings Review: growth spending squeezes profit margins

Earnings results

  • EPS miss

    Actual: $8.83 reported profit per share · Cons.: $9.27

  • Revenue beat

    Actual: $10.75B · Cons.: about $10.69B

  • Guidance

    No numerical revenue or profit outlook issued; management continues investing in growth.

By Stocks To Buy Now AI ResearchPublished

60
MercadoLibre office building in Saavedra, Buenos Aires.
MercadoLibre building in Saavedra, Buenos Aires, photographed in July 2021; archive image. Photo: Fernando Martello / Wikimedia Commons · CC BY-SA 4.0 · Wikimedia-supplied thumbnail; displayed with a responsive crop.
THE CATALYST

What the company reported

MercadoLibre reported 45% revenue growth but shipping, fulfillment and marketing investments reduced its operating margin and reported profit per share missed consensus.

AT A GLANCE

Q3 2026 earnings recap

MercadoLibre’s revenue grew 45%, but spending to expand shipping and lending squeezed profitability, leaving profit per share below expectations and making investment returns the next test.

  • Reported profit per share of $8.83 missed the $9.27 forecast, while revenue including financial income of $10.75 billion topped the roughly $10.69 billion estimate.
  • Operating margin fell to 6.3% from 9.8% a year earlier as free shipping, new fulfillment capacity and marketing spending in Brazil weighed on profit.
  • The credit portfolio grew 62% to almost $18 billion, expanding future interest income while requiring funding and upfront provisions for potential loan losses.
  • Quarterly adjusted free cash flow was $285 million after $503 million of capital spending and investment in the growing credit portfolio, highlighting the cash demands of expansion.
  • At the November 4 regular close, the stock traded at about 46.7 times trailing reported profit, making a recovery in earnings growth important to its valuation.
  • Shares gained 4.7% before earnings but remained below their 20-day and 50-day averages, then fell about 6.7% after close versus the regular close.

Watch whether cheaper delivery and maturing loans lift profitability, as management gave no numerical revenue or profit outlook and competition, currency swings and credit losses remain risks.

THE VISUAL RESEARCH

Financials, technicals and earnings

Charts through Nov 4, 2026.

Financials
Technicals
Earnings & peers
WHAT TO WATCH

Technical setup and risks

Investors must judge whether shipping efficiency and the growing loan portfolio can turn rapid sales growth into stronger profitability while credit losses and competition remain risks.

AI-assisted earnings research with verified issuer results. Charts use the stated completed session. Educational information; investing involves risk.

EXPLORE COMPANY RESEARCH

MercadoLibre: the full stock picture

Earnings history, financials, price action and peer comparisons — all below.
Open MELI stock page ↗

EXPLORE THE COMPANY

MercadoLibre (MELI)

Explore earnings, price action, financials and industry comparisons.

Symbol
MELI
Sector
Consumer Cyclical
Industry
Internet Retail
Instrument type
EQUITY

Profile information from our saved company catalog. This is not a live quote or confirmation of current listing status.

EARNINGS & COMPANY RESEARCH

MELI earnings, valuation & price action

View in calendar ↗
NEXT EXPECTED REPORTNov 4 2026After close · ET
EPS ESTIMATE9.27
REVENUE ESTIMATE10.69B

Expected dates may change. Estimates use the source’s reporting currency. Quotes and research are snapshots, not live prices.

COMPANY RESEARCH · Consumer Cyclical

MercadoLibre, Inc. MELI

Specialty Retail · Updated 11/3/2026

Adjusted closing price · USD1,677.07 Nov 3
1516180220882374Oct 31May 5Nov 3
Price50-day average200-day average-27.9% in view
VALUATION & EXPECTATIONS
Trailing P/E49.7×
Forward P/E43.8×
Trailing P/S2.6×
Forward P/S2.2×
EPS beat rate38%
Revenue beat rate100%
Positive window50%

EPS beats: 3 of 8 comparable reports. Positive price windows: 4 of 8.

Market caps may be up to 14 days old; prices up to seven days old; ratios and analyst estimates up to fourteen days old. Forward multiples use consensus for the fiscal year ending 2026-12-31, not the next 12 months. Negative or unavailable earnings multiples show “N/A”. Forward ADR multiples are omitted when the currency/share basis is not reconciled.

50-day average1,830.30
200-day average1,809.23
RSI (14)38
20-day range1,624.53 – 1,892.44
Relative volume0.3×
1-year change-27.9%
Last eight reported earnings for MELI
Report dateEPS estimateEPS actualSurpriseResultRevenue actualPrice window*5 sessions*
Aug 5 20268.659.19+6.2%Beat10.2B-3.1%-3.2%
May 7 20268.758.23-5.9%Miss8.85B-11.3%-12.7%
Feb 24 202611.4511.03-3.7%Miss8.76B-5.2%-8.1%
Oct 29 20259.128.32-8.8%Miss7.41B+3.1%+0.5%
Aug 4 202511.9310.31-13.6%Miss6.79B+1.4%-3.5%
May 7 20258.279.74+17.8%Beat5.94B+8.1%+15.0%
Feb 20 202510.2112.61+23.5%Beat6.06B+8.9%+2.6%
Nov 6 202410.007.83-21.7%Miss5.31B-15.1%-7.6%

*Adjusted close before the report date to the first (or fifth) trading close after it. This window can span two sessions and is not an isolated earnings-day return. Figures may be revised by the provider.

Smart Money activity

Recent insider and politician transactions, and disclosed fund positions for MELI.

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02 / FINANCIALS

MercadoLibre financials

Revenue, earnings, cash flow and financial strength in one view.

Reporting currency unconfirmed.

Revenue
Net income
Gross profit
Operating income
EBITDA
Operating cash flow
Capital expenditure
Cash
Total assets
Total liabilities
Shareholder equity
Total debt
Net profit margin
Gross margin
Short interest: days to cover
How to read these financial metrics

Figures use the app’s saved statements for the displayed period, not a trailing-year total. Margins divide profit by revenue; quick ratio uses current assets less inventory divided by current liabilities. Compare dates and currencies before comparing companies.

03 / WHAT COMES NEXT

MercadoLibre event catalysts

Company earnings and scheduled market events that may change expectations.

2026-11-04

MELI earnings

Watch reported results, management’s outlook and the share-price reaction.

See earnings expectations ↑
2026-11-0410:00 AM ET

ISM services PMI

Services prices and employment can influence the outlook for inflation and rates.

Release schedule ↗Scheduled
2026-11-058:30 AM ET

Initial jobless claims

Use the multiweek trend to distinguish normal volatility from a sustained increase in layoffs.

Release schedule ↗Scheduled
2026-11-068:30 AM ET

Jobs report · payrolls & unemployment

Read revisions and wages alongside the headline. Strong hiring can support demand but also lift rate expectations.

Release schedule ↗Scheduled
2026-11-0610:00 AM ET

Consumer sentiment · preliminary

Watch changes in inflation expectations as well as sentiment.

Release schedule ↗Scheduled
2026-11-108:30 AM ET

CPI inflation

Compare headline and core inflation with expectations; watch Treasury yields and growth stocks.

Release schedule ↗Scheduled
2026-11-11Time not announced

MSCI · index review announcement

Review official additions, deletions and weight changes; release time is not specified here.

Release schedule ↗Scheduled
2026-11-128:30 AM ET

Initial jobless claims

Use the multiweek trend to distinguish normal volatility from a sustained increase in layoffs.

Release schedule ↗Scheduled
2026-11-138:30 AM ET

PPI inflation

Watch the surprise versus expectations and implications for margins and interest rates.

Release schedule ↗Scheduled

Dates use U.S. Eastern time and can change. Calendar events provide context; they do not determine the direction of a stock move.

04 / SIDE BY SIDE

Compare MELI with its peers

Specialty Retail · Compare valuation, financial strength and price performance.

Companies with valuation data7
Peer median positive P/E20.4×
MELI P/E49.7×
MELI peer comparison: valuation
CompanyPriceMarket capP/EForward P/EP/SForward P/S
MELIMercadoLibre2026-11-03 · USD1,677.0792.52B49.7×43.8×2.6×2.2×
AMZNAmazon.com, Inc.2026-11-03 · USD250.692.69T19.8×19.5×3.5×3.2×
BABAAlibaba Group Holding Limited2026-11-03 · USD100.36243.67B21.1×1.6×
CPNGCoupang, Inc.2026-11-03 · USD15.2325.15B0.7×0.7×
EBAYeBay Inc.2026-11-03 · USD118.6253.93B24.5×19.3×4.5×4.3×
JMIAJumia Technologies AG2026-11-04 · USD5.60309.72M1.5×
KSPIJoint Stock Company Kaspi.kz2026-11-04 · USD95.7518.22B7.9×1.9×
MELI49.7×
AMZN19.8×
BABA21.1×
EBAY24.5×
KSPI7.9×

The peer median excludes the selected stock and is based on 4 available positive multiples. P/E median excludes negative or missing earnings multiples. Peer reports can have different fiscal periods and currencies; values are not currency-converted.

05 / PEER ANALYSIS

Explore MELI alongside its peers

Internet Retail · 13 companies · Cached market data

Comparison

Compare companies

Tap a bubble to inspect a company, then × to hide it. Undo restores the last company hidden. Bubble area reflects market cap, with a minimum size for visibility.

Price / sales
0.0×01.7×1T3.3×2T5.0×3.01TAMZN · Amazon Market cap: 2.69T Price / sales: 3.5×BABA · Alibaba Market cap: 243.67B Price / sales: 1.6×PDD · PDDs Market cap: 112.4B Price / sales: 1.7×EBAY · eBay Market cap: 53.93B Price / sales: 4.5×JD · JD Market cap: 34.68B Price / sales: 0.2×CPNG · Coupang Market cap: 25.15B Price / sales: 0.7×MELI · MercadoLibre, Inc. Market cap: 92.52B Price / sales: 2.6×Hide MELI · Undo restores itMarket cap
MELIMercadoLibre, Inc.

Market cap: 92.52B
Price / sales: 2.6×

Valuation snapshot: 2026-11-03 · Financial period: 2026-06-30
View research ↗
7 of 13 companies have both plotted values.

P/S distribution

Trailing price-to-sales multiples · 7 companies

Median P/S1.7×
Middle 50%1.1× to 3.0×
MELI P/S2.6×
MELI
0.1×4.7×

Tap a bar to see the companies in that P/S range. MELI has a higher P/S than 57% of this group.

6 companies excluded from P/S statistics because sales are non-positive or the saved multiple is missing. Statistics include all valid positive values, including those outside the focused chart range.

Companies

Showing 8 of 13 matching companies · Largest market cap first

  • Market cap 2.69TP/E 19.8×P/S 3.5×Forward P/E Forward P/S Price snapshot: 2026-11-03 · Financials: 2026-09-30
    ↗
  • Market cap 243.67BP/E 21.1×P/S 1.6×Forward P/E Forward P/S Price snapshot: 2026-11-03
    ↗
  • Market cap 112.4BP/E 7.9×P/S 1.7×Forward P/E Forward P/S Price snapshot: 2026-11-03
    ↗
  • Market cap 92.52BP/E 49.7×P/S 2.6×Forward P/E Forward P/S Price snapshot: 2026-11-03 · Financials: 2026-06-30
    ↗
  • Market cap 87.36BP/E P/S Forward P/E Forward P/S Catalog snapshot
    ↗
  • Market cap 68.08BP/E P/S Forward P/E Forward P/S Catalog snapshot
    ↗
  • Market cap 53.93BP/E 24.5×P/S 4.5×Forward P/E Forward P/S Price snapshot: 2026-11-03
    ↗
  • Market cap 34.68BP/E 15.5×P/S 0.2×Forward P/E Forward P/S Price snapshot: 2026-11-04 · Financials: 2026-06-30
    ↗

Explore industries

Open an industry for its comparison, valuation and companies.

U.S.-listed companies from the app’s catalog. Medians use saved positive P/E values; coverage and snapshot dates vary.

How this comparison works

Uses the saved companies from the same industry and listing market, including MELI, ordered by cached market cap. Company snapshots can have different dates; the web cache may cover fewer metrics and periods than the app.

Periods end at each company’s dated price snapshot. Change compares the latest saved observation with one at or before the selected period’s start. A daily price change uses consecutive saved sessions. Financial data updates quarterly, so short periods may show no change. Missing history and zero starting values are excluded; a negative starting value uses its absolute value as the denominator.

Metrics use saved ratios and percentages. Market caps use the listing market’s reporting currency; underlying financial statements may use different currencies. Circle sizes have a minimum for touch visibility, and an outlined circle indicates a missing market cap. These comparisons describe data, not recommendations or price predictions.

Related research

Company research, movers, earnings and options results.

INDUSTRY COMPARISON

MELI industry peers

Internet Retail · Oct 16, 2026 · Closing-price performance

No industry peers are available in the current heatmap coverage.