MELI earnings
Analysis, not adviceNext print
2026-08-05
cons 8.69 EPS / 9.66B rev
What the desk is testing
Explicit conditions that would change the desk's view — graded after the call.
Bull condition triggered: Gross margin recovers to ≥47%+ on a quarterly basis with an explicit management explanation tied to logistics density inflecting — this would be the first print evidence that
Bull condition triggered: Fintech segment (Mercado Pago) disclosed at ≥40pp growth premium vs consolidated revenue growth, with TPV acceleration and stable or improving NPL ratios — would validate the
＋4 more criteria on the deskfree trial · no cardFrom the desk's pre-read
MELI is scheduled to report Q1 2026 results on 2026-05-07; FMP consensus sits at $8.75 EPS · $8.29B revenue.
＋1 more — the full pre-read is on the deskfree trial · no cardThe desk's graded verdict
wobblinggraded 2026-05-21
PASSRevenue / GMV acceleration
“net revenue up 49% year-over-year, our strongest growth rate since Q2 2022”
FAILGross margin trajectory
“The margin compression reflects our choice to invest in strategic initiatives”
Educational analysis, not a personalised recommendation. See all covered names on the earnings calendar · part of our public track record.