Filing Flows › MercadoLibre (MELI) › How it makes money
How MercadoLibre (MELI) makes money
MercadoLibre (MELI) made $10.8B of revenue in the third quarter 2026 (Q3 2026), +45% from a year earlier. Net service revenues and financial income brought in $9.2B (86%); Net product revenues brought in $1.5B (14%). Of every dollar of revenue, 41¢ was left as gross profit, 6¢ was left as operating profit, 4¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Net service revenues and financial income | $9.2B | 85.6% | +6% | +42% |
| Net product revenues | $1.5B | 14.4% | +5% | +66% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $10.8B | 100.0% |
| Cost of revenue | $6.4B | 59.2% |
| Gross profit | $4.4B | 40.8% |
| Operating expenses | $3.7B | 34.5% |
| Operating profit | $676M | 6.3% |
| Income tax | $153M | 1.4% |
| Net earnings | $448M | 4.2% |
| Operating cash flow | $3.0B | 27.4% |
| Free cash flow | $2.4B | 22.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $10.8B | +45% |
| Q2 2026 | $10.2B | +50% |
| Q1 2026 | $8.8B | +49% |
| Q4 2025 | $8.8B | +45% |
| Q3 2025 | $7.4B | +40% |
| Q2 2025 | $6.8B | +34% |
| Q1 2025 | $5.9B | +37% |
From MercadoLibre's 10-Q filed Nov 5, 2026 (on EDGAR).
Questions
How does MercadoLibre make money?
MercadoLibre (MELI) made $10.8B of revenue in the third quarter 2026 (Q3 2026), +45% from a year earlier. Net service revenues and financial income brought in $9.2B (86%); Net product revenues brought in $1.5B (14%). Of every dollar of revenue, 41¢ was left as gross profit, 6¢ was left as operating profit, 4¢ was left as net earnings.
What is MercadoLibre's biggest business?
Net service revenues and financial income: $9.2B in the third quarter 2026, 86% of revenue, +42% from a year earlier.
What is MercadoLibre's profit margin?
Net earnings were $448M, 4.2% of revenue, in the third quarter 2026; the operating margin was 6.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.