MercadoLibre, Inc. (MELI) Q2 2026 Earnings Call

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WEBVTT 00:00:01.033 -- 00:00:05.076 Hello everyone, good evening, and thank you for joining MercadoLibre's conference call 00:00:05.076 -- 00:00:10.399 for the quarter-ended June 30th, 2026. I'm Richard Cathcart, 00:00:10.399 -- 00:00:15.322 Senior Director of Investor Relations, and I'm joined this evening by Ariel Szarfsztejn, 00:00:15.322 -- 00:00:20.466 our CEO, Martin de los Santos, our CFO, and Osvaldo Gimenez, 00:00:20.466 -- 00:00:24.448 President of FinTech. Tonight's format will be slightly different. 00:00:24.448 -- 00:00:28.931 I'll start by handing over to Martin for a few high-level opening remarks, and then we'll 00:00:28.931 -- 00:00:33.819 head straight into the Q&A. Before we do that, I would like to remind you that management 00:00:33.819 -- 00:00:38.980 may make or refer to forward-looking statements and non-GAAP measures, so please refer 00:00:38.980 -- 00:00:43.521 to the disclaimer on screen, which is also available in our earnings materials on our 00:00:43.521 -- 00:00:48.462 Investor Relations website. Please note that this call is being recorded and a replay 00:00:48.462 -- 00:00:52.923 will be made available on our Investor Relations website as well. 00:00:52.923 -- 00:00:57.983 With that, I'll pass the call over to Martin de los Santos, our CFO. 00:00:58.044 -- 00:01:00.982 Good afternoon and thank you for joining us. 00:01:00.982 -- 00:01:05.123 MercadoLibre delivered another strong quarter in Q2 2026. 00:01:05.123 -- 00:01:11.305 Net revenue surpassed $10 billion for the first time, growing 50% year-on-year. 00:01:11.305 -- 00:01:17.287 Income from operations was $683 million, with a margin of 6.7%, 00:01:17.287 -- 00:01:22.769 broadly in line with last quarter and the result of a deliberate choice to continue prioritizing 00:01:22.769 -...