MercadoLibre, Inc. (MELI) reported second-quarter 2026 net revenue of $10.2 billion, a 50% increase year-over-year. However, operating income decreased by 17% to $683 million, with the operating margin dropping to 6.7%. Net income margin also fell to 4.6%, reflecting the company’s focus on investments in growth over immediate profitability.
In Brazil, where MercadoLibre lowered its free-shipping threshold a year ago, conversion rates improved by 1.1 percentage points, contributing to a 29% rise in active sellers year-over-year. Unique active buyers reached 89.3 million, a 26% increase, with gross merchandise volume rising by 36% on an FX-neutral basis.
Looking ahead, the Zacks Consensus Estimate predicts a 39.7% growth in current financial-year sales and a 3.3% rise in earnings per share. For the next fiscal year, sales are expected to grow by 27%, and earnings by 45.9%.
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