Filing Flows › MercadoLibre (MELI) › Q2 2026
MercadoLibre (MELI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
MercadoLibre (MELI) reported revenue of $10.2B for the second quarter 2026 (Q2 2026), +50% from a year earlier and +15% from the quarter before. Operating margin was 6.7%, net earnings $466M (4.6% of revenue).
MercadoLibre, Q2 2026: revenue $10.2B (+50% year over year), operating margin 6.7%, net earnings $466M, operating cash flow $3.7B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.2B | +15% | +50% |
| Gross profit | $4.2B | +8% | +34% |
| Operating profit | $683M | +12% | -17% |
| Net earnings | $466M | +12% | -11% |
| Operating cash flow | $3.7B | +76% | +26% |
| Free cash flow | $3.2B | +79% | +22% |
What changed
Revenue was $10.2B in Q2 2026, up 50% year over year and up 15% from the previous quarter. Net service revenues and financial income was the largest line at 85% of revenue. Net service revenues and financial income added $2.7B year over year (up 46%), 81% of the total change.
Gross margin was 40.9%, down 4.7 points from Q2 2025. Operating profit was $0.68B, a 6.7% margin (down 5.4 points year over year). Operating profit fell $0.14B even though revenue rose $3.4B versus Q2 2025, so costs grew faster than sales. Operating expenses grew 53% against revenue growth of 50%. The fastest-growing cost line was Other operating costs (+85%). Net earnings were $0.47B, down 11% year over year. The effective tax rate was 23.1%.
Operating cash flow was $3.7B (up 26% year over year), 786% of net earnings. Non-cash charges added back $0.29B of depreciation and amortization. Working capital and other items added $2.9B. Capital expenditures of $0.44B left free cash flow of $3.2B.
Questions
What was MercadoLibre's revenue in the second quarter 2026?
MercadoLibre (MELI) reported revenue of $10.2B for the second quarter 2026 (Q2 2026), +50% from a year earlier and +15% from the quarter before.
Was MercadoLibre profitable in the second quarter 2026?
Operating profit was $683M (6.7% of revenue) and net earnings $466M.
Source: MercadoLibre 10-Q on SEC EDGAR.