EarningsQ2 2026 Earnings Report
MX:MELIN Q2 2026 EPS Results
Actual EPS$167.06
Consensus EPS$157.26
Beat/MissBeat by +$9.80
One Year Ago EPS$187.42
MX:MELIN Q2 2026 Revenue Results
Actual Revenue$184.85B
Expected Revenue$178.04B
Beat/MissBeat by +$6.81B
YoY Revenue Growth+49.76%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:MELIN Upcoming Earnings
Mercadolibre's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:MELIN Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted very strong top‑line growth, rapid scaling of the credit book, robust advertising and AI‑driven monetization, meaningful engagement gains (especially in Brazil) and positive cash generation despite heavy investments. Offsetting items include significant margin compression (550 bps YoY) due to deliberate reinvestment, device and logistics cost pressures (notably in Mexico), a pickup in >90‑day NPLs in some cohorts and higher AI/LLM costs. Management framed margin declines as intentional to drive long‑term engagement and profitability, emphasized disciplined risk management on credit, and reiterated confidence in the ecosystem flywheel.Company Guidance
Record Net Revenue
Net revenue surpassed $10.0 billion for the first time, growing 50% year‑on‑year.
Strong Cash Generation Despite Heavy Investment
Adjusted free cash flow of $214 million in Q2 after capital expenditures of $441 million and $2.1 billion invested into the credit book.
Credit Portfolio Growth with Solid Asset Quality
Credit portfolio reached $16.4 billion, up 75% year‑on‑year; 15–90 day NPL of 7.0% for the total portfolio and 4.6% for credit card; NIMAL improved from 18% in Q1 to 21% in Q2 with spreads recovering in Brazil.
Ecosystemic Users Drive Higher Engagement and Profitability
Ecosystemic users (Marketplace + Mercado Pago) generate ~70% more Marketplace GMV, ~90% more TPV and are growing ~37% year‑on‑year; contribution profit per ecosystemic user is multiples of marketplace‑only + fintech‑only users.
Advertising and AI Monetization Performance
Advertising revenue grew >70% year‑on‑year (cited ~73%); ad orchestrator usage rose 66%; AI deployments (search, seller assistant, ad tools) are driving higher conversion, ad CTRs and measurable ROI.
Brazil Commerce Acceleration
Brazil metrics improved materially after lowering free‑shipping threshold: items per buyer +19% YoY, conversion +1.1 percentage points YoY, purchase frequency +20%; management cited seller growth acceleration to 29% and items growth accelerating (management noted a 56% figure).
Cross‑Border Trade (CBT) and Fulfillment Scaling
CBT GMV roughly +60% YoY with triple‑digit growth in several markets; Chinese fulfillment center volume grew ~170% quarter‑on‑quarter, improving delivery speed, cancellations and unit economics.
MX:MELIN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed