MercadoLibre stock posts 45% growth as logistics spending weighs on margins
Published on 11/09/2026 at 16:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth Meets a Margin Test
- MercadoLibre reported third-quarter revenue and financial income of 10.75 billion US dollars, up 45% year over year.
- Net income reached 448 million US dollars but missed the 476 million US dollar analyst estimate.
- Higher fulfillment capacity, shipping costs and marketing spending weighed on operating margins ahead of the holiday season.
MercadoLibre reported third-quarter results on Wednesday, November 4, with revenue growth again outpacing profit growth. In a report by Reuters, the company said net revenue and financial income rose 45% year over year to 10.75 billion US dollars for the July-to-September period.
Net income was 448 million US dollars, below the 476 million US dollar analyst expectation cited by Reuters. Profit nevertheless increased 6% from a year earlier, ending three consecutive quarters of year-over-year declines.
Logistics Investment Pressures Margins
Income from operations reached 676 million US dollars, while the operating margin fell to 6.3% from nearly 10% a year earlier. Reuters attributed the pressure to higher logistics capacity, free-shipping costs and increased marketing spending in Brazil.
MercadoLibre expanded fulfillment capacity by 20% from the previous quarter as it prepared for major promotional events, including Black Friday. Chief Financial Officer Martin de los Santos said the additional capacity creates near-term costs before the related revenue arrives, with part of the pressure expected to reverse as utilization improves.
Fintech Growth Meets Credit Caution
The credit portfolio at Mercado Pago grew 62% year over year. Management also said it had become more conservative with new lending in Brazil and Argentina amid a complex credit environment, giving investors another factor to monitor alongside shipping economics.
MercadoLibre stock traded at 1,365.60 euros on Lang & Schwarz at 16:03 CET on Monday, November 9, 2026.
MercadoLibre stock at a glance
- Company: MercadoLibre, Inc.
- ISIN: US58733R1023
- Ticker: MELI
- Latest quote: 1,365.60 euros on Lang & Schwarz, November 9, 2026 at 16:03 CET
- Third-quarter revenue and financial income: 10.75 billion US dollars
- Third-quarter operating margin: 6.3%
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