MercadoLibre: Q1 Earnings Snapshot

May 5, 2022 GMT

MONTEVIDEO, Uruguay (AP) _ MercadoLibre SA (MELI) on Thursday reported first-quarter net income of $65 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Montevideo, Uruguay-based company said it had profit of $1.30.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.

The operator of an online marketplace and payments system in Latin America posted revenue of $2.25 billion in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $2.01 billion.

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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