MercadoLibre: 2Q Earnings Snapshot
BUENOS AIRES, Argentina (AP) _ MercadoLibre SA (MELI) on Wednesday reported second-quarter net income of $16.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Buenos Aires, Argentina-based company said it had net income of 31 cents.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The operator of an online marketplace and payments system in Latin America posted revenue of $545.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $497.6 million.
MercadoLibre shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $613.54, a climb of 77% in the last 12 months.