MercadoLibre, Inc.: EPS $8.83 vs $9.27 expected; revenue $10.8B vs $10.7B
Key Facts
Q3 FY2026 results
| Metric | Actual | Estimate | Surprise | Year ago |
|---|---|---|---|---|
| EPS (USD) | 8.83 | 9.27 | −4.7% | 8.32 |
| Revenue (USD bn) | 10.75 | 10.69 | +0.6% | 7.41 |
Recent reports: actual vs estimate
| Reported | Period | EPS (USD) | Estimate | Surprise | Revenue (USD bn) | Estimate | Surprise |
|---|---|---|---|---|---|---|---|
| Nov 4, 2026 | Q3 FY2026 | 8.83 | 9.27 | −4.7% | 10.75 | 10.69 | +0.6% |
| Aug 5, 2026 | Q2 FY2026 | 9.19 | 8.65 | +6.2% | 10.20 | 9.79 | +4.1% |
| May 7, 2026 | Q1 FY2026 | 8.23 | 8.75 | −5.9% | 8.85 | 8.29 | +6.7% |
| Feb 24, 2026 | Q4 FY2025 | 11.03 | 11.45 | −3.7% | 8.76 | 8.45 | +3.7% |
| Oct 29, 2025 | Q3 FY2025 | 8.32 | 9.12 | −8.8% | 7.41 | 7.22 | +2.7% |
| Aug 4, 2025 | Q2 FY2025 | 10.31 | 11.93 | −13.6% | 6.79 | 6.67 | +1.7% |
| May 7, 2025 | Q1 FY2025 | 9.74 | 8.27 | +17.8% | 5.94 | 5.49 | +8.2% |
| Feb 20, 2025 | Q4 FY2024 | 12.61 | 10.21 | +23.5% | 6.06 | 5.82 | +4.1% |
Source: Figures from the EL7 database. Estimates are the analyst consensus carried by our data vendor (FMP), not official figures.
MercadoLibre, Inc. results: EPS $8.83 vs $9.27 expected; revenue $10.8B vs $10.7B. The results cover the company's Q3 FY2026. EPS came in below analysts' estimate by 4.7%; revenue above the estimate by 0.6%.
Revenue was up 45.1% from $7.4 billion a year earlier (Q3 FY2025). EPS was up 6.1% from $8.32 a year earlier. On its record, EPS topped analysts' estimates in 3 of 7 earlier comparable reports.
What the results mean
MercadoLibre’s results reflect deeper use of its commerce and financial services ecosystem, alongside market share gains in Brazil, Mexico and Argentina. Management highlighted greater purchase frequency, payment activity and saving, explaining that combining shopping with financial services strengthens user activity and supports advertising and credit underwriting.
Profitability came under pressure from expanded free shipping, added fulfillment capacity and increased affiliate marketing spending in Brazil. Free shipping encouraged purchases of lower-priced goods and more frequent orders, but smaller baskets increased the shipments needed to move merchandise and strained delivery economics despite declining cost per shipment.
These results illustrate why activity growth and operating efficiency do not necessarily translate directly into earnings when the company reinvests efficiency gains in its services. Delivery network density, automation and inventory proximity to demand are therefore central, alongside stable financial services servicing costs as user activity expands.
What to watch on the earnings call: Free shipping economics and the effects of basket size and merchandise mix on delivery profitability, utilization of added logistics capacity and automation’s contribution to shipment costs, affiliate marketing effectiveness in Brazil, sustained purchase frequency and overlapping use of commerce and financial services, and management’s comments on demand in Argentina, spending and margins.
For the full analysis of MercadoLibre, Inc. stock — valuation, scores and financial statements — see the stock page linked with this story.