Mercado Libre tops USD 10 billion in quarterly revenue for the first time
Mercado Libre surpassed USD 10 billion in quarterly revenue for the first time, marking its fastest growth pace in four years.
The performance was driven by continued expansion across its e-commerce, financial services, advertising and artificial intelligence businesses.
Mercado Libre generated more than USD 10 billion in quarterly revenue for the first time, reaching a milestone that marks the company’s fastest growth pace in four years and its 30th consecutive quarter of revenue growth exceeding 30%.
During the second quarter of 2026, net revenue and financial income increased 50% year over year to USD 10.2 billion. Operating income reached USD 683 million, with a 6.7% operating margin, while net income totaled USD 466 million.
The company attributed the results to long-term investments in e-commerce, financial services, logistics, advertising and artificial intelligence, aimed at strengthening user engagement and expanding the competitive advantages of its ecosystem.
Users who engage with both the Mercado Libre marketplace and Mercado Pago continue to represent the company’s highest-value customer segment. During the quarter, ecosystem users increased 37% year over year, generating 70% higher gross merchandise volume (GMV) per user than marketplace-only customers and nearly 90% higher total payment volume (TPV) than users who exclusively use the fintech platform.
Commerce maintains strong momentum.
The Commerce business generated USD 22 billion in GMV, representing 36% year-over-year growth on a constant-currency basis.
Brazil led regional performance, with GMV rising 39% and items sold increasing 56%.
In Mexico, GMV grew 26% while items sold increased 34%. In Argentina, the same metrics rose 38% and 22%, respectively.
Cross-border commerce also contributed significantly to regional growth. GMV in this segment increased 60% year over year, driven by a 170% increase in volume processed through the company’s fulfillment center in China, expanding product availability for Latin American consumers.
Mercado Ads posted 73% year-over-year revenue growth in U.S. dollars, while the company surpassed a 10% share of Latin America’s digital advertising market for the first time.
The performance was supported by broader adoption of artificial intelligence tools and continued expansion of cross-border commerce and the Top Brands program.
Mercado Pago reaches a new milestone.
The Fintech business also delivered record results. Mercado Pago surpassed USD 100 billion in total payment volume (TPV) for the first time, growing 56% year over year, while monthly active users increased 30% to 88 million.
Assets under management (AUM) rose 68% to USD 23 billion.
The credit portfolio expanded 75% year over year to more than USD 16 billion, while the company issued 2.6 million credit cards during the quarter. According to Mercado Libre, these results reflect the continued expansion of its financial ecosystem and a strategy focused on increasing the share of lower-risk customers.
Artificial intelligence expands its role.
Artificial intelligence continues to play an increasingly important role across Mercado Libre’s operations. During the quarter, the company completed the rollout of its AI-powered search architecture across its five largest markets, where improvements in conversion and click-through rates more than offset the costs of using third-party large language models.
The volume of code produced increased 90% year over year, while AI agents autonomously reviewed more than 500,000 code submissions and participated in the migration of nearly 9,000 services over the past year.
”Surpassing USD 10 billion in quarterly revenue is an important milestone, but we believe the most meaningful indicator of our long-term opportunity is the depth of engagement within our ecosystem. Every investment we make—from free shipping and MELI+ to our credit card—is designed to make the ecosystem more valuable for our users,” said Martín de los Santos, Chief Financial Officer of Mercado Libre.
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