Earnings Releases·Nov 4, 2026, 4:01 PM ET

MercadoLibre — Q3 2026 Earnings Summary

Net revenues reached $10.75 billion (+45% YoY, +41% FX-neutral), while operating income declined 6% YoY to $676 million and net income rose 6% YoY to $448 million.
Total Payment Volume surged 53% YoY to $109 billion and Gross Merchandise Volume grew 38% YoY to $23 billion, with both segments showing strong FX-neutral growth across Brazil, Argentina, and Mexico.
Net debt increased to $8.028 billion as of September 30, 2026, from $4.682 billion at year-end 2025, driven by a $2.1 billion credit portfolio expansion partially offset by $1.5 billion in fintech funding.
Management reaffirmed long-term margin confidence despite near-term compression from shipping costs and strategic investments, noting that ecosystemic users generate 70% more GMV and 3-4x higher ARPU than single-vertical users.
Strategic initiatives include a Netflix connected TV advertising partnership launching in early 2027, robotics deployment delivering 70% productivity gains in picking, and a successful $1 billion investment-grade bond issuance in September.