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MercadoLibre reported Q2 FY2026 revenue of $10.2 billion, above the consensus of $9.8 billion. Adjusted earnings per share were $9.19, above the consensus of $8.69.
Revenue rose 49.8% from $6.8 billion a year earlier. In its filing, MercadoLibre attributed growth to higher lending originations, first-party sales, payment volume and merchandise volume. Commerce revenue increased as marketplace services and product sales grew, while fintech revenue benefited from credit and financial services.
Diluted earnings per share fell to $9.19 from $10.31 a year earlier. Gross margin declined to 40.9% from 45.6%, and operating margin fell to 6.72% from 12.2%. The filing attributed the margin declines in part to a lower free-shipping threshold in Brazil and higher shipping costs. It also cited increased provisions for doubtful accounts as its credit card portfolio expanded.
MercadoLibre reported free cash flow of $3.2 billion, compared with $2.6 billion a year earlier.
| Q2 FY2026 | Q2 FY2025 | Change | |
|---|---|---|---|
| Revenue | $10.2 billion | $6.8 billion | 49.8% |
| Diluted EPS | $9.19 | $10.31 | −10.9% |
| Gross margin | 40.9% | 45.6% | −4.7 percentage points |
| Operating margin | 6.72% | 12.2% | −5.4 percentage points |
| Free cash flow | $3.2 billion | $2.6 billion | 22.5% |
| Against the consensus | Reported | Consensus | Result |
|---|---|---|---|
| Adjusted EPS | $9.19 | $8.69 | Beat by 5.75% |
| Revenue | $10.2 billion | $9.8 billion | Beat by 4.07% |
Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.
What management said on the call
MercadoLibre’s latest earnings call is not available, so its management commentary and responses to analysts cannot be reported.
Guidance
MercadoLibre’s management guidance is not available for the latest quarter, so its current outlook and any changes from previous guidance cannot be reported on this page.