MercadoLibre Results Beat in Q1, led by Strength in Argentina, Brazil
2022.05.06 00:46
MercadoLibre Earnings, Revenue Beat in Q1
By Yasin Ebrahim
Investing.com – MercadoLibre (NASDAQ:MELI) reported Thursday first-quarter results that topped analysts’ estimates, led by strong performance in Argentina and Brazil.
MercadoLibre shares gained 6.51% in after-hours trade following the report.
MercadoLibre announced earnings per share of $1.30 on revenue of $2.25 billion. Analysts polled by Investing.com anticipated EPS of $1.20 on revenue of $2.02 billion.
Gross merchandise volume, a key performance metric, grew about 27% to $7.7 billion, underpinned by growth in Argentina and Brazil following year-over-year improvements in engagement and buyer frequency.
MercadoLibre’s report follows an earnings missed by Amazon.com on April 28, which reported adjusted earnings per share of $7.38 on revenue of $116.44 billion, compared to forecasts EPS of $8.35 on revenue of $116.45 billion.
Tesla had beat expectations on April 20 with first quarter EPS of $3.22 on revenue of $18.76 billion, compared to forecast for EPS of $2.26 on revenue of $17.87 billion.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
