MercadoLibre: 1Q Earnings Snapshot

MercadoLibre: 1Q Earnings Snapshot

Associated Press

BUENOS AIRES, Argentina (AP) _ MercadoLibre SA (MELI) on Thursday reported first-quarter net income of $11.9 million, after reporting a loss in the same period a year earlier.

The Buenos Aires, Argentina-based company said it had net income of 13 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $473.8 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $416 million.

MercadoLibre shares have increased 65% since the beginning of the year. The stock has increased 45% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MELI at https://www.zacks.com/ap/MELI