31 Straight Quarters of 30%-Plus Growth
MercadoLibre's results page put net revenue and financial income at $10.75 billion, up 45% from a year earlier, and said revenue has now grown more than 30% for 31 consecutive quarters. According to JBizNews, gross merchandise value rose 38% to $23 billion, Mercado Pago payment volume rose 53% to $109 billion, fintech users grew 29% to 93 million, and the credit portfolio grew 62% to nearly $18 billion.
Where the Profit Went
Adjusted EPS was $8.83. CNBC and Benzinga put consensus at $9.27, and Investing.com used $9.34. Revenue beat the $10.66 billion to $10.69 billion range of estimates those outlets cited. Income from operations was $676 million, a 6.3% margin, down from 7.0% in the prior quarter. Net income was $448 million, up 6%, and Bloomberg Línea said analysts compiled by Bloomberg had expected $473 million.
Investing.com tied the squeeze to expanded free shipping, fulfillment capacity added ahead of the holiday peak, and more affiliate marketing in Brazil. It said net shipping margin has fallen about 200 basis points as a share of GMV since the first quarter of 2025, after the company lowered its free-shipping thresholds.
A 4.7% Rally That Reversed After the Bell
MELI closed the regular session at $1,739.88, up 4.7% from $1,662.16, after trading as high as $1,767.98, in Cboe's delayed quotes. Benzinga put the stock at $1,614.03 after hours, down 7.23%, and Investing.com reported a 7.8% decline shortly after the release. After-hours prices are thin and can still shift before Thursday's open.
$1,614 Against a $1,617 Break-Even
At the close, the November 6 $1,740 straddle cost about $123 at midpoints, about 7.1% of the share price, with break-evens near $1,617 and $1,863. The bid-ask spreads on those contracts were wide, around $24 a leg, so real fills could differ meaningfully from the midpoint. A price near $1,614 is roughly at the lower break-even. There, the $1,740 put would carry about $126 of intrinsic value, close to the full straddle cost, and the call would be nearly worthless. That leaves a straddle owner near break-even and a seller near a wash, while short puts on their own would be well under water.
Calls Outnumbered Puts More Than Three to One
Options volume on the day ran about 10,800 calls to 3,000 puts. The single busiest line was the November 13 $2,100 call, about 21% above the close, which traded 4,414 contracts against open interest of 4,149. Volume doesn't show whether those contracts were bought or sold, or whether they opened or closed positions. The 30-day IV index ended at 46.7%, down about 1.1 points, while the November 6 options carried implied volatility above 110%.
After the Event
Once the report is out, the event premium in this week's and next week's options usually fades fast, whichever way the stock opens. For a $1,700-plus stock, even one contract carries a large dollar exposure, so position sizing matters as much as direction. Defined-risk spreads limit both the premium spent and the maximum loss. Our implied volatility guide explains how IV typically behaves after earnings.
Sources
*By the OptionsPilot Editorial Team. Published November 4, 2026, 3:18 PM PT. This article is for education only and is not investment advice. Options involve risk and are not suitable for all investors.*
