Filing Flows › MercadoLibre (MELI) › Q3 2026
MercadoLibre (MELI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
MercadoLibre (MELI) reported revenue of $10.8B for the third quarter 2026 (Q3 2026), +45% from a year earlier and +6% from the quarter before. Operating margin was 6.3%, net earnings $448M (4.2% of revenue).
MercadoLibre, Q3 2026: revenue $10.8B (+45% year over year), operating margin 6.3%, net earnings $448M, operating cash flow $3.0B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.8B | +6% | +45% |
| Gross profit | $4.4B | +5% | +37% |
| Operating profit | $676M | -1% | -7% |
| Net earnings | $448M | -4% | +6% |
| Operating cash flow | $3.0B | -19% | -0.3% |
| Free cash flow | $2.4B | -24% | -6% |
What changed
Revenue was $10.8B in Q3 2026, up 45% year over year and up 6% from the previous quarter. Net service revenues and financial income was the largest line at 86% of revenue. Net service revenues and financial income added $2.7B year over year (up 42%), 82% of the total change.
Gross margin was 40.8%, down 2.5 points from Q3 2025. Operating profit was $0.68B, a 6.3% margin (down 3.5 points year over year). Operating profit fell $0.05B even though revenue rose $3.3B versus Q3 2025, so costs grew faster than sales. Operating expenses grew 49% against revenue growth of 45%. The fastest-growing cost line was Other operating costs (+65%). Net earnings were $0.45B, up 6% year over year. The effective tax rate was 25.5%.
Operating cash flow was $3.0B (roughly flat year over year), 658% of net earnings. Non-cash charges added back $0.31B of depreciation and amortization. Working capital and other items added $2.2B. Capital expenditures of $0.50B left free cash flow of $2.4B.
Questions
What was MercadoLibre's revenue in the third quarter 2026?
MercadoLibre (MELI) reported revenue of $10.8B for the third quarter 2026 (Q3 2026), +45% from a year earlier and +6% from the quarter before.
Was MercadoLibre profitable in the third quarter 2026?
Operating profit was $676M (6.3% of revenue) and net earnings $448M.
Source: MercadoLibre 10-Q on SEC EDGAR.